Governor and legislative leaders agree to make income tax system more progressive

Governor Cuomo and state legislative leaders on Dec. 6 announced that they had reached an agreement to restructure the state’s tax code. The changes will make the state’s income tax system more progressive and generate $1.9 billion in annual revenue for the state. The tentative agreement would not only impose higher taxes on those earning more than $2 million a year, but also cut taxes for the middle class.

UFT President Michael Mulgrew issued the following statement in response:

I want to thank Governor Cuomo for his leadership in crafting a wide-ranging solution to the state’s budget problems.  The agreement worked out among the Governor, Speaker Silver and Majority Leader Skelos – a stark contrast with the political deadlock in Washington -- will bring more fairness to the state tax code and help ensure that children in our public schools will begin to see restorations from the devastating education cuts of recent years.