Assembly Overrides Governor’s Vetoes to Provide Tax Relief for Cortland and Tompkins Families
April 26, 2006
Assemblywoman Barbara Lifton (D/WFP- Tompkins/Cortland) announced that the Legislature overrode the governor’s vetoes that would have denied New Yorkers millions in tax cuts. “New York is one of the most heavily-taxed states in the nation, which is why the Legislature protected a property tax rebate for homeowners enrolled in the STAR and Enhanced STAR programs,” Lifton said. “The rebates will help ease the burden of high property tax bills. The kind of tax relief the governor vetoed is precisely what we need to preserve our communities and encourage families to stay in New York.” Lifton noted that New York has a multi-billion dollar surplus of the taxpayers’ money. When the Legislature met in open conference committees, it came to a bipartisan agreement on a budget that would return the taxpayers’ money back to them through tax cuts, better services or increased local aid. The Legislature’s bipartisan budget cuts taxes $1.6 billion this year, $2.5 billion next year, and rejects nearly $1 billion in tax increases the governor wanted to impose. But the governor wants to deny most of that tax relief to New York families. The governor’s vetoes would also reject:
- a child tax credit with a maximum benefit of $330 for each child between ages 4 and 17 for every family in the state, totaling $600 million in savings statewide; and
- reducing the marriage penalty tax, which would save married couples $41 million annually when fully phased in.