New York State Senate Republicans are pushing a series of bills they say would provide the largest tax relief to middle-class New Yorkers in the state’s history, and also improve the state’s spending discipline.
The legislative package, which they call “Keep What You Have Earned,” includes a provision that would require the state to follow a similar cap on annual tax levies, just as local governments and school districts are required to follow. That bill is being led by Senator George Borrello, whose district includes Cattaraugus, Chautauqua, Genesee, and Wyoming Counties.
Borrello, who previously served as the Chautauqua County Executive and served in the Chautauqua County Legislature, says the county government was held to a two-percent cap on tax levies and even Governor Andrew Cuomo held to it. But Albany, under one-party rule, state spending has escalated by $92 billion over a seven-year period.
“We spent all this money and yet we don't have anything to show for it, only more fiscal stress” he said. “Every single day in my office, I meet with folks that aren't getting enough money to take care of the most vulnerable people in our in our state, senior citizens, people in hospitals and nursing homes.”
Another bill within the package eliminates state personal income tax on the first $50,000 of income for single filers and the first $100,000 for joint filers over a ten-year period. Sponsoring that piece of legislation is Senator Steven Rhoads of the 5th district, which covers portions of Nassau and Suffolk Counties.
“This equates to a tax cut for all New Yorkers, saving the average New York family… and understand that the average income for a family in the State of New York is about $87,000, that means that with this plan the average New York family, when fully implemented, will pay zero in state personal income taxes,” Rhoads said. “It will save the average family almost $5,000 per year, every year. This delivers real affordability and real opportunities for New York families to get ahead, and an incentive to continue to call New York their home.”
Other bills within the package would:
· Require a two-thirds vote from each house of the State Legislature to impose or extend taxes a two-thirds vote from local legislative bodies to impose or extend local taxes, and a two-thirds vote from local legislative bodies requesting an imposition or extension of taxes by the state legislature;
· Reduce the amount small businesses and farms must pay in taxes;
· Eliminate state income tax on overtime;
· Eliminate state income tax on tips;
· Reduce the property tax burden on homeowners by providing for a ten-year state takeover of the local share of Medicaid for local governments subject to the two percent property tax cap;
· Freeze real property taxes for three years.
Senate Minority Leader Robert Ortt, from Niagara County, opened a Wednesday presentation in Albany by calling New York State the ‘tax capital of the U.S.’ He is among those arguing that ‘Keep What You Have Earned’ will provide the affordability lawmakers say they champion but do not deliver.
“There is no significant tax relief for New Yorkers who are absolutely being hammered on all sides,” he said. “We talk about affordability. We talk about making people's lives more affordable. How about a revolutionary idea? Let people keep more of their money that'll make their life more affordable. You just keep more of the money that you're working so hard for. I'll take less of it. We'll take less of it. We'll have to make do with less of it.”
The bills introduced Wednesday are part of the Senate GOP's broader legislative agenda, known as Save New York.