How $2 1 billion for undocumented immigrants landed in the state budget timesunion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesunion.com Daily Mail and Mail on Sunday newspapers.
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By Jimmy Vielkind ALBANY, N.Y. New York state lawmakers began approving a new state budget Tuesday after agreeing to a roughly $2 billion fund that would provide cash payments to immigrant workers living in the country unlawfully who didn t receive federal benefits during the coronavirus pandemic. The budget will total more than $212 billion for the fiscal year which started on April 1, including $112.2 billion for state operations, State Sen. Liz Krueger said during a floor debate. The spending plan is buttressed by billions of dollars in federal aid and $4.3 billion in annualized revenue from increasing corporate taxes and income taxes on the state s top earners.
NY lawmakers begin passing $212B state budget newsday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsday.com Daily Mail and Mail on Sunday newspapers.
WBFO Albany Correspondent Karen Dewitt reports
The Senate and Assembly held a marathon session that was expected to last well into Tuesday night to approve the budget bills. Early Wednesday morning, the Senate passed the deal and the Assembly is expected to follow.
The budget increases taxes on the wealthy and corporations by $4.3 billion when fully implemented, with an increase in the personal income tax rate on New Yorkers making more than $1 million from 8.82% to 9.65%. It adds two new higher tax brackets 10.3% for those making over $5 million, and 10.9% for those earning over $25 million. Corporate franchise taxes will also be going up, from 6.5% to 7.25%.
FILE PHOTO The Capitol building in Albany. Six days after it was due, Gov. Andrew Cuomo and New York State’s legislative l
eaders announced a final agreement on a $212 billion dollar budget deal. It increases taxes on the wealthy and adds funds for schools, renters and small businesses including restaurants that struggled financially during the COVID-19 pandemic.
The Senate and Assembly held a marathon session that was expected to last well into Tuesday night to approve the budget bills.
The budget increases taxes on the wealthy and corporations by $4.3 billion when fully implemented, with an increase in the personal income tax rate on New Yorkers making more than $1 million from 8.82% to 9.65%. It adds two new higher tax brackets 10.3% for those making over $5 million, and 10.9% for those earning over $25 million. Corporate franchise ta