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By Jimmy Vielkind The debate about raising taxes as part of New York s budget is shaping up to be a test of how far Democrats in the state Legislature will go to take on their party mate Gov. Andrew Cuomo. After last year s elections, Democrats have the two-thirds majority in both the state Assembly and Senate enough to override a gubernatorial veto. Advocates of raising taxes are pushing rank-and-file lawmakers to flex their muscles during the budget process, which will dominate the Capitol until the next fiscal year begins April 1. Mr. Cuomo proposed a $193 billion spending plan that includes $1.5 billion from raising taxes on people reporting $5 million or more in annual income. But one breath after describing the plan, he fretted about its potentially negative consequences if wealthy people leave the state. Mr. Cuomo said the plan can be avoided if the U.S. Congress approves more aid for the state.
Cuomo s Budget Hinges On Getting $15 Billion From Biden s Washington
arrow Cuomo s Budget Director Robert Mujica briefs reporters on the 2022 fiscal year budget on Tuesday afternoon. Darren McGee-Office of Governor Andrew M. Cuomo
The fate of education funding, middle class tax cuts, and higher income taxes for the wealthy all depend on whether the federal government comes to New York s aid, Governor Andrew Cuomo said during his annual budget address on Tuesday afternoon.
In a nearly hour-long address that was scant on budget details but layered with harsh words for the outgoing Trump administration, Cuomo said the state was essentially preparing two budgets: one that assumes that New York would receive just $6 billion from the Biden administration s $1.9 trillion proposed stimulus of which $350 is earmarked for state and local aid and another that accounts for $15 billion, a figure that lines up with the state s current budget deficit over the next two y