Eyeing Tax Code Changes, Cuomo Keeps Door Open For Higher Taxes

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Gov. Andrew Cuomo this morning refused to rule out whether he will consider raising taxes next year, particularly higher income taxes on the wealthy.

After a year of vowing to let higher income taxes on the rich expire at year’s end, Cuomo said on Fred Dicker’s radio show on Talk 1300-AM this morning that he’s reviewing a variety of options on how to close next year’s budget gap — including changes to the tax code.

Cuomo has talked recently about changes to the tax code as an issue of “fairness” and comes as he faces continued pressure from fellow Democrats and unions to retain higher taxes on the rich. The Wall Street Journal reported this morning that Cuomo is considering higher taxes on the rich and lower taxes on the poor.

“This is an economic problem, not a budget problem,” Cuomo said. “How do you create jobs in the state in a time when you have this national economy and the national current is running against you? What can a state do, what can this state do specifically to create private-sector jobs?”

The governor continued, “What programs would you run? What would you do with debt? What would do you with capital? What would you do with the budget? What would you do with the tax code to generate jobs?”

Cuomo said his budget plan will look at how to boost the economy, not just closing a budget gap.

“You have a budget problem. That’s not the illness, that’s the symptom. The illness is the economy is going south,” Cuomo said.

Asked whether he’ll raise taxes, “You’ll see my budget plan in seven weeks,” Cuomo said.

Cuomo said he has been talking with leading economists and aides about how to change the tax code to benefit the state’s economy.

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2 Comments

  1. Glad to hear he was listening….

    Reduce the top rate.

    Raise the income cuts at each of the other tax rates.

    Boost the Investment Tax Credit.

    Penalize retained CASH earnings.

    Get the money moving again.

  2. notlaughinginwastechester on

    As the other libs row the same boat, he also is deciding whether to hop aboard or swim away from the the fast moving redistribution of wealth cruise.
    In Westchester, we also have the landmark redistribution of real estate.
    All in the Marxist effort to socialize this great nation and run to run to ruin everything our forefathers sought to establish our great country upon. Not to mention all the lives that were shed, perhaps in vain, in the wars meant to keep this great country free, free from tryanny, free from oppression, and free to live our lives without government placing unreasonable restrictions upon us.
    And to one American, where I live, how I make my living, and how I choose to practice and show my faith as long as I ask nothing from the government, is NONE OF THEIR BUSINESS!!!