Cuomo’s Tax Plan to Raise Taxes on Rich May Not Go Far Enough For Some Dems

Tuesday, December 6th, 2011

By Azi Paybarah

Andrew Cuomo is negotiating his tax plan in private meetings with lawmakers. But the broad outlines of a new tax structure have begun to take shape, and could determine how much support the governor’s plan gets from fellow Democrats.

Will it raise enough revenue to compensate for money the state loses when the millionaire’s tax sunsets? Thomas Kaplan notes Democrats and labor unions are pushing for that.

Fred Dicker and Erik Kriss have some details suggesting it won’t. Cuomo, according to their reporting, is pushing for new rates higher than the permanent rate of 6.85 percent, but lower than the temporary “millionaire’s tax” of 8.97 percent.

As Democratic State Senators Liz Krueger and Diane Savino discussed yesterday, sharing the tax burden is one thing, bringing in more money to fund state programs, is another.

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