Lawmakers raised the state income tax to 5% from 3% in a bid to close the state's deficit, which could be as large as $15 billion,The New York Timessaid.
he debate on the bill carried late into the night, with the final vote tallied after 1 a.m. local time. Even among its supporters, the increase was unpopular.
Of course they could reduce spending.... NAW
Of course they could reduce spending.... NAW
State Representative Elaine Nekritz, a Democrat who voted in favor of the increase, said her decision was a choice "between and bad and worse."
Bad are the Democrat representatives, worse is more Democrats!
Bad are the Democrat representatives, worse is more Democrats!
Lawmakers raised the corporate tax rate to 7% from its current rate of 4.8%. The state's spending growth will be limited from one year to the next over the next four years.
Republican lawmakers opposed the increases, saying the state should do more to slash spending.
Roger L. Eddy, a Republican representative, said lawmakers were "making up for our mistakes" on the back of taxpayers.
See full article from DailyFinance:http://srph.it/eSHmS7
Republican lawmakers opposed the increases, saying the state should do more to slash spending.
Roger L. Eddy, a Republican representative, said lawmakers were "making up for our mistakes" on the back of taxpayers.
See full article from DailyFinance:http://srph.it/eSHmS7
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