Andrew Cuomo on Tax Reform

	Andrew Cuomo on Tax Reform Democratic Governor

COVID: Raise taxes on the wealthy to help states

If the federal government needs revenue, it should raise income taxes on the wealthy to finance the state's resurgence from this national devastation. That is basic economic justice and economic prudence. Look what has happened in America, the rich have gotten richer, the poor have gotten poorer and the middle class has gotten smaller. Washington should not force any state to bear the cost alone - especially New York State. Source: 2021 State of the State Address to the New York legislature , Jan 11, 2021

Limiting state tax deductibility hurts Democratic states

Trump's tax reform plan of 2017 included ending the deductibility of state and local taxes, which hurt NY more than any other state. It also hurt other Democratic states including CA, MA, MI, IL, NJ, and CT. It was the height of Republican hypocrisy. It turns out that the party against redistribution of income is only against it if they don't benefit. SALT took tax dollars from Democratic states and gave them to Republican states. It was redistribution on steroids, and it was vicious to New York. Source: American Crisis, by Andrew Cuomo, p.176 , Oct 13, 2020

Good management leads to lower taxes

Because we managed government better, we were able to lower taxes, which are now at historic lows. Lowest middle class tax rate since 1947. Even I wasn't born in 1947. Lowest manufacturers tax since 1917. Lowest corporate tax since 1968. So, a great record of accomplishment. A lot of momentum. Source: 2019 State of the State address to the New York legislature , Jan 15, 2019

Tax cuts as part of strategy to create jobs

We limited the state's new spending to less than 2% a year. We passed a 2% property tax cap that has brought welcome relief to the citizens of our state and we have cut income, corporate and estate taxes. In total, we have reduced the tax burden on New Yorkers by $114 billion dollars. Why is that important? Because reducing taxes is part of our strategy to create jobs. Source: 2016 State of the State speech to New York legislature , Jan 13, 2016

Tax cut for middle class; increase taxes on wealthiest 1%

Although Cuomo said as a candidate in 2010 state taxes were "out of control" and candidate Astorino in 2009 called county taxes "madness", records show each, at best, only stemmed the growth in taxes, which remain among the highest in the nation.

Cuomo's tax message includes a modest cut for the middle class while increasing taxes on the state's tiny, wealthiest 1 percent, [one pundit] said. "It's good politics," he said.

[Perhaps] Cuomo's greatest triumph is forcing a 2 percent cap on the growth in local property taxes. Cuomo promised as a candidate in 2010 to eliminate state-mandated programs on schools and local governments so they could afford the 2 percent cap. Many school and local government officials say too few mandates-- many protected by influential unions in Albany --were touched.

[One pundit] dismissed Cuomo's property tax freeze as a "gimmick," because taxes will still go up and the state subsidy will just mask them for a year or two.

Source: Newsday on 2014 New York State gubernatorial race , Jun 15, 2014

A flat tax is not a fair tax

We fought for tax fairness. For decades, millions of New Yorkers were burdened with an unfair tax code. Whether a person made $20,000 or $20 million, they paid the same rate. It was just wrong--because a flat tax is not a fair tax. We added new brackets for the middle class and for high earners. The more you make, the higher rate you pay. And we stimulated our economy by cutting taxes for New Yorkers earning $40,000 to $300,000. Today, the middle class is paying the lowest rate in 58 years. Source: 2012 New York State of the State Address , Jan 4, 2012

Enacted NY's first-ever property tax cap: 2% per year

We began the year by closing a $10 billion deficit with no gimmicks, and we did it on time. The budget included historic reforms to redesign and consolidate state government, eliminate automatic spending increases that cost New Yorkers billions of dollars, and cap spending increases for education and Medicaid. After 20 years of failure, we enacted the state's first-ever property tax cap. New York's property taxes are among the highest in the nation, but for more than 15 years, both houses of the Legislature and three governors failed to bring these skyrocketing costs under control. The tax cap that we enacted limits increases in property taxes to 2 percent, or the rate of inflation--whichever is less. Schools and local governments can go beyond the cap, but only if 60 percent, respectively, of the voters or local legislative body approve. Source: 2012 New York State of the State Address , Jan 4, 2012

NY has 2nd highest state and local tax burden in the nation

The national economic decline has hurt New York especially hard. We are in the midst of the Great Recession where nearly 800,000 New Yorkers are unemployed and our people are facing the crush of the second highest combined state and local tax burden in the nation. New York's already hostile business climate--ranked 50th in the nation--must change if we are to have prosperity. Our government costs are simply unsustainable. New Yorkers see the dysfunction and they're voting with their feet by leaving. Source: 2011 State of the State speech to New York legislature , Jan 5, 2011

Freeze state taxes; cap local taxes; cap spending

Freeze Taxes: Because New Yorkers--already among the most taxed in the nation--cannot afford to pay more taxes than they do already, Andrew Cuomo will freeze taxes: he not raise and will veto any increase in personal or corporate income taxes or sales tax.
Impose a State Spending Cap: In order to address the financial crisis and permanently control State spending, a statutory and constitutional spending cap that requires the Governor to propose, and the Legislature to enact, a budget that limits State Operating Funds growth to the rate of inflation is necessary.
Impose a Local Property Tax Cap: Spending must also be controlled at the local level. The local property tax cap would apply to all school districts and local governments and would be set at the lower of the inflation rate or two percent.

Source: 2010 gubernatorial campaign website, andrewcuomo.com , Nov 1, 2010

Tax business based on how much business they do in NY

Cuomo proposed taxing multi-state companies only on how much business they do here. Cuomo suggested replacing the existing corporate franchise tax, which is based on a combination of sales, payroll & property holdings, with a “single sales factor” tax, under which sales would be counted once instead of twice as they are now. It would be phased in over four years and benefit manufacturers and securities firms first, eventually applying to all companies with holdings in New York and other states. Source: Elizabeth Benjamine, Times Union (Albany) , Feb 15, 2002

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