![]() Insiders believe Cuomo may ultimately get his way on this, because without the tax, much of the wish list items for both houses would stall. And particularly since in the likelihood there will likely be some federal action that will benefit millionaires in the state," said Assembly Speaker Carl Heastie. "We still believe we want to add a couple of tiers for the highest-earning millionaires in this state. They feel that Cuomo's proposal needs to go even further, looking for a bigger tax on those at the highest end of the earning spectrum. The position taken by a newly emboldened Republican Senate conference, whose members were able to hold their majority in elections last fall, is in sharp contrast to Assembly Democrats. Right now, our members think it's key to keep it out of the budget," said state Senate Majority Leader John Flanagan. "I know the governor thinks it's key to the budget overall. You can't do it without extending the millionaire's tax," Cuomo said.īut the tax is not very popular among state Senate Republicans, who would need to approve it. "If you don't have the millionaire's tax, that is a $4 billion hole. ![]() Governor Andrew Cuomo's proposed $152 billion state spending plan is based on a key revenue: a tax on high-income earners, which was adopted during the governor's first year in office. Governor Andrew Cuomo's push to renew the so-called millionaire's tax as part of his budget is drawing mixed reaction from legislative leaders.
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