Last Monday, Gov. Cuomo held a cabinet meeting in the Capitol and offered a preview of his agenda for the 2014 legislative session on Monday, listing tax policy, job creation and public ethics reform as his “top tier” issues for 2014.
During the event, Cuomo administration officials touted their accomplishments since the Governor took office in 2011, including three on-time budgets to progress on the replacement of the Tappan Zee Bridge.
Gov. Cuomo indicated that he supports the proposals made last week by his Tax Relief Commission, which urged a two-year “freeze” on homeowners’ property taxes in localities that keep budget increases within the state’s 2% tax cap, business tax cuts and a real property tax “circuit breaker” that would cap the proportion of household income that a homeowner would have to pay as property taxes. Gov. Cuomo also said that he will push for a renters’ tax credit.
While there is much to like in the Tax Relief Commission’s report, we continue to oppose putting a property tax circuit breaker in place, because it is a tax shift – not tax relief. There are far better ways to lower taxes. The question remains: Does anyone in Albany have the courage to take on the battles? Only time will tell.