Harckham Acclaims 2021-2022 State Budget for Investments in Hudson Valley Recovery hamlethub.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hamlethub.com Daily Mail and Mail on Sunday newspapers.
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State Assemblyman Billy Jones speaks about road salt legislation signed by the governor earlier this week at Berkeley Green in Saranac Lake December 4.
(Enterprise photo â Aaron Cerbone) The full details of New York’s 2021-22 budget are not yet fully known, but it includes new funding for environmental protection, including overuse in the Adirondacks. According to Democratic Assembly Speaker Carl Heastie, the budget sets aside $1.55 million to address overuse in the Catskill and Adirondack parks. The budget also includes $300 million for the state Environmental Protection Fund and, if voters approve, $3 billion for the “Restore Mother Nature” Environmental Bond Act to fund environmental restoration projects. This bond act will be on the ballot in the November 2022 general election.
New York business groups criticize corporate tax surcharge in new state budget
Updated Apr 07, 2021;
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Syracuse, N.Y. New York business groups are criticizing a temporary corporate tax rate hike included in the new state budget.
The fiscal 2022 budget agreement reached between lawmakers and Gov. Andrew Cuomo includes a surcharge on the corporate income tax rate, boosting it from 6.5% to 7.25% for three years through 2023 for taxpayers with business income greater than $5 million.
The rate will remain at 6.5% for companies making less than $5 million.
The changes are expected to raise $750 million in fiscal year 2022 and $1 billion in fiscal year 2023.
E.J. McMahon, New York Post April 6, 2021
(Carlo Allegri/Pool Photo via AP)
Back on Jan. 19, Governor Cuomo presented an Executive Budget calling for a temporary $1.5 billion personal income tax increase targeted at New York’s highest earners. The left-leaning Democratic supermajorities in the state Assembly and Senate countered with proposals for an eye-popping array of $7 billion in tax hikes, mostly targeted at high earners.Read Full Article »
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