NEW YORK CITY-A bi-partisan tax commission established by Gov.Andrew Cuomo is considering a plan that would recommend more than $1 billion in mainly property tax cuts. However, the group appears divided over a plan by former Gov. George Pataki to include personal income tax cuts in the proposal.
Pataki, co-chairman of the commission, stated in a letter to the commission on Wednesday that a $1.4-billion tax cut package is being considered. The former Republican governor noted that the cuts should also include increasing the estate-tax exemptions, eliminating income taxes on manufacturing, establishing a $300-million education tax credit for low-income parents, eliminating a utility tax surcharge upstate and phasing out the millionaire's tax by 0.5%, according to the Wall Street Journal.
The divide on the commission will cause the group to miss its Friday deadline for a submission of its recommendations to Democratic Gov. Cuomo, who has said he wants the commission to focus on cutting property and business taxes, not income taxes. See story in the Wall Street Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
