A $44.8 billion spending plan unveiled Tuesday by Gov. Phil Murphy calls for no new taxes and fully funds the state pension program for the first time since 1996. Source: New York Times
Posts published in “Taxation”
Cuomo Offers Doomsday Proposal to Attack a Possible $15 Billion Deficit
By Gotham Rex on January 19, 2021
The governor floated an increase in income tax on top earners as he warned that the state might have to cut $2.6 billion in school and Medicaid spending. Source: New York Times
Legalized Marijuana in New York: This Could Be the Year
By Gotham Rex on January 6, 2021
With the state facing a budget crisis, a Democratic supermajority in Albany may pave the way for new taxes and the legalization of recreational pot. Source: New York Times
As Soon as Trump Leaves Office, He Faces Greater Risk of Prosecution
By Gotham Rex on November 13, 2020
The president is more vulnerable than ever to an investigation into his business practices and taxes. Source: New York Times
Voters in Jersey City Embrace a New Tax to Finance the Arts
By Gotham Rex on November 4, 2020
Officials had worried that a new arts tax may be too much to ask in a place still reeling financially from the pandemic, but 64 percent of New Jersey voters approved of the idea. Source: New York Times
Hedge Fund Magnate Is Moving His $41 Billion Firm From N.Y. to Florida
By Gotham Rex on October 22, 2020
The firm, Elliott Management, led by Paul Singer, will transfer its headquarters to West Palm Beach, Fla., because of the pandemic. Source: New York Times
Deal Reached in N.J. for ‘Millionaires Tax’ to Address Fiscal Crisis
By Gotham Rex on September 17, 2020
Gov. Philip Murphy said the tax would help make up shortfalls caused by the pandemic, but Republicans warned it would lead to an exodus of wealthy residents. Source: New York Times
Tax the Ultrarich? Cuomo Resists, Even With a $14 Billion Budget Gap
By Gotham Rex on September 7, 2020
State Democratic lawmakers are pressuring Gov. Andrew Cuomo to approve a tax on the wealthy, fearing that budget cuts will hurt those most in need. Source: New York Times
Ocasio-Cortez Pushes Cuomo to Back Billionaires’ Tax
By Gotham Rex on July 16, 2020
Progressives want the tax to help New Yorkers hurt by the virus, but the governor says it could drive high earners out of state and damage the tax base. Source: New York Times