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Channel 6 News - Search Results

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NY budget, called a tax cutter, was built on hikes

ALBANY (AP) -- New York's budget that will start to be voted into law this weekend is based on lawmakers' power to stop a sunset.
 
Two sunsets, in fact.
 
Gov. Andrew Cuomo and the Legislature are stopping the scheduled expiration of a temporary income tax increase on millionaires and delaying one on a big utility tax on businesses.
 
In legislative speak, those expirations are called sunsets.
 
So, while Cuomo and lawmakers call it a tax-free, business- and family-friendly budget, critics are swift to point out it contains what are in effect tax hikes. And, they say, they're getting done a full year before any of the leaders has to think about getting re-elected.
 
Those who pushed for the budget note the tax extensions were needed to pay for other coveted programs.

AP-WF-03-23-13 1542GMT
 
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