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Funke: Repeal the Yacht Tax Break

northcountrypublicradio.org

State Senator Rich Funke says there are many things in the state budget he is proud of, but the so-called yacht tax break is not one of them.

It  gives big tax breaks to buyers of boats or planes over 230-thousand dollars.

Funke says during the budget talks, Governor Cuomo  had the ability to veto the yacht tax break, and he called upon him to do it.

"But it doesn't appear the governor's intention is to veto that so I'm announcing that I'm picking up the ball and leading the charge to repeal the yacht tax break," said Funke.

Funke adds there are many things in the budget he is proud of, from investments in the city of Rochester and new programs to support farmers in Ontario and Monroe to refunding cancer service programs in the district.

And while he understands some proponents argue this tax break is intended to support job creation and tax relief, he says he has a tough time seeing the virtue of those claims.

Funke said when someone has the means to buy a yacht or plane that costs nearly 5 times the median family income in his district, you don’t need a tax break.

He adds he plans to start conversations with colleagues on both sides of the aisle and rally support to repeal the yacht tax break when the Senate reconvenes tomorrow.