Legislature takes up state leaders' tax deal

(AP) - Bills are being printed to enact a huge tax deal that's now expected to pass by Wednesday night in Albany. The tax plan

THE BRONX - (AP) - Bills are being printed to enact a huge tax deal that's now expected to pass by Wednesday night in Albany. The tax plan has already been agreed to by Gov. Andrew Cuomo and legislative leaders.

It would raise the income tax on millionaires while providing a modest, but rare, break for 4.4 million middle class New Yorkers.

Snags and last-minute negotiations appeared all but settled by mid-afternoon.

More than $2 billion would be raised from the tax hike. It would pay for the middle-class tax cut, fund jobs programs, provide $50 million for upstate flood relief and ease the New York City transit tax on small business while giving manufacturers a tax break.

The cut for most middle-class New Yorkers will range from $200 to $400 a year.

advertisement | advertise on News 12

Trending Video

A 21-year-old was critically injured after crashing his 1 21-year-old critically injured in crash on Bronx River Parkway
A violent brawl captured on video Thursday night 2 City Island restaurant brawl captured on video
3 Neighborhood Brief for Feb. 26
VIDEO: Scenes from fatal accident 4 VIDEO: Scenes from fatal accident
A family member tells News 12 she was 5 Family displaced, 9 injured in Morrisania apartment fire

advertisement | advertise on News 12

Features

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE