Sunday, January 18, 2015

State of the State Budget Address




  Just some of the items to be discussed in the State of the State Address by Governor Andrew Cuomo will be the proposal to increase the state minimum wage to $10.50 an hour. There would also be a provision for the minimum wage in New York City to be $11.50 an hour at the same time, but would not allow the city to change the minimum wage without state approval as is currently done. 
  
  There will be mention opf giving small businesses a tax break. The current 6.5 percent rate would be lowered over a three year period down to 2.5 percent. This would cost the state 32 million dollars in tax revenue, and be the lowest tax rate for small businesses since the tax was imposed on small businesses in 1917. 

  As for his planned trip to Cuba, Governor Cuomo replied the following at a press conference. "I want to be one of the first to open trade with the Island of Cuba. New York has much to offer the people of Cuba." 


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