This week’s surprise announcement from Governor Andrew Cuomo was the alarming news that the state budget was missing $2.3 billion in expected tax revenues from December and January — and that Trump’s tax cuts were to blame.
Last month, Gov. Andrew Cuomo officially announced his plan to counter the federal tax law’s double-taxing of state and local income taxes with a simple gambit: Eliminate New York state income taxes, and instead collect the same amount of money via payroll … Continue reading
The revised tax bill that was approved by a House-Senate conference committee still has the same general shape as the versions that passed each house of Congress a couple of weeks back: giant tax cuts for the wealthy, small tax … Continue reading
This is kind of a nutso time for trying to follow the news, we get it. Every day, Donald Trump is either threatening to tweet us into nuclear Armageddon or arresting and deporting more people; the mayor and the governor … Continue reading
If you like paying taxes twice on the same income, you’ll love this plan.
When New York state’s 421-a tax break program came crashing down early last year amid a standoff between developers and construction unions over wages, there were mixed feelings among many housing advocates. On the one hand, 421-a had been a … Continue reading
The city’s venerable 421-a tax break for housing development, which expired last January and which Governor Cuomo now wants to renew and expand, has long come under fire from housing advocates as an insanely inefficient way to spur new residential … Continue reading
Complaining about the subways is the God-given right of New Yorkers, especially when fares are on the rise or service is on the decline, which seems to be always.Offering ways to fix the subways, though, is generally reserved for pundits … Continue reading
If you’ve been anywhere near a computer in the last two days, you’ve probably seen the reports that President Obama has declared war on sports stadium subsidies. This is actually old news—the provision to ban the use of federally tax-exempt … Continue reading
In what might be dubbed the NBA’s Year of the Tank, what’s going on at Madison Square Garden is still pretty remarkable. In the last month and a half, the Knicks have traded Iman Shumpert and J.R. Smith for a … Continue reading