Cuomo predicts state budget surplus

Crain’s New York is reporting that Gov. Andrew Cuomo has said New York could have a budget surplus that could result in tax cuts.

With the Governor’s New York State Tax Relief Commission set to release recommendations in the near future, he said his focus would not be on cutting personal income tax (PIT) – although it was recently reported that former New York Gov. George Pataki, co-chairman of The Commission, would propose PIT cuts in the report.

The Governor recently told the Capitol Pressroom, “We just did the [personal income tax] last year… I have no interest in reopening the personal income tax discussion since we just redid it…”

As the Crain’s article notes, New Yorkers pay among the highest property taxes in the country although the tax cap limits increases to 2% unless voters approve higher proposed tax rates.

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