December 28, 2008
State Budgets: New York Plans to Raise Taxes and Fees
by Joseph Henchman
Gov. David Paterson (D) recently unveiled his proposals to close an estimated $15.4 billion shortfall in the $121 billion proposed budget (a 1.1% increase over the current budget). These include a lengthy series of tax and fee increases that will be covered soon in a separate Tax Foundation report, as well as increasingly taxing out-of-state transactions including sales over the Internet and on Indian reservations, and an unjustified tax on soda (except diet soda). The budget also includes reductions in school aid, laying off 571 state employees, and expanding state gambling. New York City has also proposed higher income, sales, and property taxes.
More on New York here.
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