Divisions are forming in the upcoming debate over tax cuts that’s likely to dominate the new legislative session.
Business groups are largely supportive of the findings of a tax commission appointed by Gov. Andrew Cuomo. The commission recommends cuts to the corporate tax, faster phase out of an energy tax and easing of the estate tax. They also propose a reduction in property taxes by encouraging local governments and schools to cut spending and consolidate.
Gov. Andrew Cuomo’s commission to study tax cuts has missed its December 6 deadline to report it’s findings, after facing controversy over former Gov. George Pataki’s desire to cut income taxes for all wage earners, including the wealthy.
Although the tax commission has now bogged down over co-chairman George Pataki’s push to lower income tax rates, its original charge was to look at ways to lower New York’s highest in the nation property taxes, as well as find ways to reduce business taxes.