Cuomo: $4 billion in new taxes, wealth tax, $2.1 billion for illegals, and more

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Gov. Andrew Cuomo and legislative leaders on Tuesday announced a deal on the state’s long-overdue budget. It roughly includes $4 billion in new taxes, legal sports betting, legal marijuana even though we can’t test them for drugs when they drive, and unemployment benefits for illegal immigrants. There is a $2.1 billion “Excluded Workers Fund” for illegal immigrants.

The $212 billion spending plan, which was due April 1, an extra $18 billion from last year. They blame COV, but they are getting a huge bailout.

HE’S AN ECONOMIC ILLITERATE

Cuomo spends money we don’t have on useless projects.

“Thanks to the State’s strong fiscal management and relentless pursuit to secure the federal support that the pandemic demanded, we not only balanced our budget, we are also making historic investments to reimagine, rebuild and renew New York in the aftermath of the worst health and economic crisis in a century.”

Cuomo is going to continue funding for a $311 billion infrastructure plan that he called the largest in the country, as well as a “groundbreaking program to provide affordable internet for low-income families” and police reforms that he said would improve public safety.

They have a wealth tax. The tax hike will impose a roughly 1 percent increase on New Yorkers who make more than $1 million a year and establishes new tax brackets for the state’s highest earners.

Cuomo plans to raise the tax rate for the wealthiest New Yorkers to a top rate of 10.86%, up from 8.82%.

New York City residents would pay a top rate of 14.7% in state and local taxes, the highest income tax rate in the nation, Cuomo said Tuesday in an address unveiling his 2022 budget.

The state’s corporate franchise tax will also rise to 7.25 percent from 6.5 percent for three years, though the rate will remain the same for companies that make under $5 million.

When he runs out of their money, it will hit the middle class. And the wealthiest New Yorkers will simply take their money out of New York or create fewer jobs.

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4 COMMENTS

  1. New York is on Federal life support. Emperor Cuomo is running the tax base out of the State as fast as he can and replacing it with Illegal Aliens who will be on welfare. A 14.7 tax period is outrageous, but this is a 14.7% state and local tax. Arguably Florida has a better standard of living then New York and Florida has no Income tax.

    • Oh yeah, he’s running folks out of New Yawwk to places like right here in Virginia! Trouble is, those folks bring their bad voting habits with them and create what they refugeed south to GET AWAY FROM in the first place!!! And we’re sick and tired of it!!!

  2. Marijuana is still illegal on federal grounds and companies can still test and fire people with it in their urine screens.
    The DEA won’t be rescheduling cannabis anytime soon as it is up there with PCP, LSD, Cocaine, in the no medicinal purpose category.
    The people with the means (wealth) will Escape From New York and good on them.
    Bureaucrats live in cloud cuckoo land and think that people in the real world won’t find every possible way around taxes but it will become a national pastime as it is in European countries like Italy and France.
    Don’t worry about voting habits as there is a 1-2-3 Dominion machine for that.
    We are all South Africans now, work with the hand that you have been dealt and defeat never enters the thought regarding everyday living and survival.

  3. Cuomo is transparent, he goes for a farther left budget to appease the left which has decided to destroy him. The state can collapse, the spoiled brat governor must survive. It’s that simple.

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