estate tax

On Wednesday, both houses of the legislature are due to release their one-house budget proposals, which they will then use to negotiate a final spending plan with Gov. Andrew Cuomo. Assembly Speaker Sheldon Silver, in an interview with PBS's New York Now and public radio stations, says Assembly Democrats are not yet on board with part of Cuomo’s plan to cut the estate tax.

Karen Dewitt / WRVO

Gov. Andrew Cuomo’s plan to cut the estate tax is drawing praise from fiscally conservative groups and condemnation from advocates for the poor.

The governor's proposal would raise the threshold for New York’s estate tax from the current $1 million to $5.25 million, which is the current federal rate of taxation. EJ McMahon, with the fiscally conservative think tank The Empire Center calls the levy a death tax. He says it’s about time New York got in synch with the rest of the country, where many states have already eliminated the tax altogether.

Ellen Abbott/WRVO

Local union activists and community organizers are hoping to send a message to state lawmakers about Gov. Andrew Cuomo’s proposed budget: they don’t like it. And they suggest it will increase the income gap between the rich and the poor.

On a snowy day in Syracuse, union activities and community organizers gathered to rally at the state office building in Syracuse against the governor's budget plan