– Assemblyman Bill Magnarelli
Myth: The STAR program was eliminated.
Truth: Despite Magnarelli’s efforts, the STAR rebate program was eliminated, but Basic and Enhanced STAR property tax exemptions will still give Onondaga homeowners hundreds of dollars in property tax savings.
Myth: Income taxes were raised on all New Yorkers.
Truth: Ninety-seven percent of New Yorkers will not see any income tax increase. Only households earning $300,000 a year or individuals earning $200,000 a year will see a small, temporary income tax increase. The budget also rejected $2.1 billion in taxes and fees that would have burdened the middle class.
Myth: The budget included no reforms.
Truth: The budget begins permanent health care reimbursement reforms and investments that will lead to $1.6 billion in savings this year and billions more in future years.
Myth: This is an irresponsible budget.
Truth: The budget closed a record $17 billion budget deficit and reduced the future budget gap by 80 percent. The projected 4-year budget deficit of $60 billion that New York taxpayers would have had to grapple with is drastically slashed to $11 billion. It was also necessary to use federal stimulus funds because President Obama has made it clear that these funds must be spent quickly to help foster our economic recovery.