Under the guise of tax reform, New York’s mayor and city council speaker are trying to push through a loophole for large interstate corporations:
You might think that the middle of a recession spawned by massive corporate malfeasance wouldn’t be the best time to propose a giant tax break for corporations. But then, if you’re Mayor Mike Bloomberg and Council Speaker Christine Quinn, you might not. Crain’s reports today that the dynamic duo of City Hall has begun a major push to cut taxes for city corporations by $2.7 billion over the next decade, a gift that could eventually be worth more than half a billion dollars a year to city businesses.”… [read more]
Note: Obviously the last line of this article became outdated after the 3 p.m. coup in Albany.