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Cuomo announces budget proposals

Jan 18, 2017 12:06 am

Governor Andrew Cuomo's budget briefing for Fiscal Year 2018, from Jan. 17, 2017.

Matthew Hamilton is reporting at Capitol Confidential Gov. Andrew Cuomo Tue., Jan. 17, presented his $152.3 billion executive budget proposal, which includes a $1 billion increase in state education aid and the beginning of an income tax cut for middle class New Yorkers. In a briefing with reporters, Cuomo also said the state cannot do without a so-called millionaires tax, and has proposed extending that tax for an additional three years. Under Cuomo's proposal, for those earning between $40,000 and $150,000 annually their tax rate would decrease from 6.85 percent to 6.45 percent in the coming fiscal year. Read the full story at Capitol Confidential.