Gov. Cuomo’s “Tax Relief Commission,” which he announced in early October, was scheduled to present the governor with its findings last Friday. But the panel, co-chaired by former Gov. George Pataki and former Comptroller Carl McCall, has been delayed in issuing its report.
According to a news report, the Commission has reached consensus on proposing a property tax circuit breaker, but Gov. Pataki is urging the panel to also recommend increasing the estate-tax exemptions, eliminating income taxes on manufacturing, establishing a $300 million education tax credit for low-income parents, eliminating the 18-a utility tax surcharge upstate and phasing out the state’s high earner tax.
On Friday, Senate Republican Leader Dean Skelos called for the Commission to recommend “broad-based tax relief measures that help create jobs, reduce the cost of doing business in New York, bolster small businesses and assist hardworking, middle-class families…” We heartily agree with that sentiment. A circuit breaker is not tax relief; it is merely a tax shift from some taxpayers to others. We need real tax relief, not gimmicks.
The Commission’s report is expected to be released tomorrow.