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Cuomo may raise taxes on wealthy

Dec 06, 2011 12:04 am
Thomas Kaplan in The New York Times reports that Gov. Andrew Cuomo may, after all, raise taxes on the wealthy to solve some of the state's budget woes. So far, Cuomo has refused to renew a so-called "millionaire's tax" but now he is reconsidering, in the face of a larger-than-expected budget deficit. State lawmakers may return to Albany as soon as Tuesday to consider budget remedies. Kaplan's story in The New York Times says legislative leaders were considering creating new tax brackets, with higher tax rates for the state’s largest incomes. Read the full story in The New York Times.