PUBLISHED 8:32 PM ET Mar. 15, 2021 PUBLISHED 8:32 PM EDT Mar. 15, 2021
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The NYS Senate and Assembly passed their one house budgets on Monday, each proposing more than $200 billion in spending. These one house budgets will not be finalized as is, but if enacted would be one of the largest spending plans in New York’s history.
To put it in perspective, California’s state budget for 2020-2021 was $202.1 billion and California has nearly double the population.
In contrast, Governor Andrew Cuomo’s budget proposal outlines $178 billion in spending.
At the same time, despite slight differences, the Senate and Assembly budget proposals are very similar, potentially giving Assembly Speaker Carl Heastie and Senate Majority Leader Andrea Stewart-Cousins more bargaining power in the budget process when they go into a (perhaps virtual) room with Governor Andrew Cuomo.
Pied-a-terre tax absent from Senate Dems budget plan
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Pied-à-terre and billionaire tax not included in N Y Senate Dems budget proposal
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State Lawmakers Want Higher Taxes On The Rich, But Shy Away From Billionaires Tax
arrow Protesters in July demanding higher taxes on billionaires in New York to fund aid for undocumented workers. JUSTIN LANE/EPA-EFE/Shutterstock
State lawmakers want to raise taxes on the wealthy and corporations by $7 billion to stop tuition increases, fund transportation and rent assistance, and provide aid to undocumented New Yorkers who were left out of the federal and state pandemic relief efforts.
The proposals from the State Assembly and the State Senate call for significant spending increases compared to the budget proposed by Governor Andrew Cuomo in January more than 10%, or $8.7 billion in the Assembly.
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