City Comptroller John C. Liu today issued the following statement in response to questions concerning the announcement of proposed tax reforms:
“The proposed tax reform agreement announced today looks promising, as it would cut taxes for the middle class, retain taxes on the wealthy, and generate new revenue for the State. Under the plan, the State’s income tax would be more progressive in the middle brackets -- making a greater distinction between those earning $40,000 a year and those earning $300,000 -- which is reasonable and warranted. Overall the plan would benefit our State’s working families, whose financial health is vital to our economic recovery. I applaud Governor Cuomo, Senate Majority Leader Skelos, and Assembly Speaker Silver for their leadership on this important issue and look forward to reviewing the proposal further.”
“The proposed tax reform agreement announced today looks promising, as it would cut taxes for the middle class, retain taxes on the wealthy, and generate new revenue for the State. Under the plan, the State’s income tax would be more progressive in the middle brackets -- making a greater distinction between those earning $40,000 a year and those earning $300,000 -- which is reasonable and warranted. Overall the plan would benefit our State’s working families, whose financial health is vital to our economic recovery. I applaud Governor Cuomo, Senate Majority Leader Skelos, and Assembly Speaker Silver for their leadership on this important issue and look forward to reviewing the proposal further.”
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