NY Times: Assembly will push to keep tax increase on high earners

In case you missed it, from Tuesday’s New York Times:

ALBANY – The Assembly speaker, Sheldon Silver, said on Tuesday that Democrats in the chamber would seek passage of a budget bill that includes the renewal of a temporary income tax surcharge on high-earning New Yorkers, a proposal staunchly opposed by Gov. Andrew M. Cuomo.

Extending the tax increase would raise about $1 billion in extra revenue for the budget that lawmakers are negotiating with Mr. Cuomo. The money, proponents say, should be used to offset the $10 billion in cuts and savings that the governor is seeking in areas like Medicaid and school financing.

The extension is overwhelmingly supported by Assembly Democrats, and its adoption has become the focal point of opposition to Mr. Cuomo’s sweeping budget cuts among members of his own party.

After a private meeting with Mr. Cuomo on Tuesday, Mr. Silver said he had told the governor that his members considered extension of the tax a top priority and that he expected it to be included when the Assembly unveiled its own budget bill this month.

“I indicated to him that the overwhelming sentiment of my house is to renew and to do it,” Mr. Silver said.

Silver cited his willingness to work with the governor to find a solution to closing the budget gap, but said that failing to renew the income tax surcharge is not the answer.

You can check out the full story here: http://www.nytimes.com/2011/03/02/nyregion/02millionaire.html

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