New York Governor denounces payroll tax clause
New York Governor Andrew Cuomo shot back at a payroll tax that he believes is affecting the way the state's Metropolitan Transit Authority can save money, the New York Post reports. During a recent event at Marist College, Cuomo spoke out against a 34 cent tax for every $100 of MTA payroll.
According to the paper, the tax was levied during a 2009 bailout of the authority, which services nine counties in the state. Cuomo wants to see the tax removed and replaced with a more satisfactory method of financing the MTA.
"It is a very onerous tax. Not just in this area," Cuomo stated at the event. "People are complaining on Long Island, the entire metropolitan region. I've said from the beginning I understand the need to finance the system. If we can find a better way to do it, I'm open."
In place of the tax, Cuomo wants to install tax credits and other incentives that will ideally attract new business to the region while creating green jobs via joint private-sector and academic investments, the Poughkeepsie Journal reports.
Currently, New York faces a state deficit of $7.4 billion for 2010-2011, according to the state's Division of the Budget.
According to the paper, the tax was levied during a 2009 bailout of the authority, which services nine counties in the state. Cuomo wants to see the tax removed and replaced with a more satisfactory method of financing the MTA.
"It is a very onerous tax. Not just in this area," Cuomo stated at the event. "People are complaining on Long Island, the entire metropolitan region. I've said from the beginning I understand the need to finance the system. If we can find a better way to do it, I'm open."
In place of the tax, Cuomo wants to install tax credits and other incentives that will ideally attract new business to the region while creating green jobs via joint private-sector and academic investments, the Poughkeepsie Journal reports.
Currently, New York faces a state deficit of $7.4 billion for 2010-2011, according to the state's Division of the Budget.
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