WXXI Local Stories
Wed April 6, 2011
Silver: Millionaire's Tax is Not Dead
By Karen DeWitt
Albany, New York –
Assembly Speaker Sheldon Silver says he hasn't given up on extending the state's tax on millionaires, even though it was not a part of the recently approved state budget.
In an interview with public radio and television, Speaker Silver says the millionaire's tax is not dead, despite the failure to renew it in the budget, and he says he'll continue to fight for it.
Silver points out that the current temporary income tax surcharge on New Yorkers making $200,000 and up does not expire until the end of the calendar year, so there's plenty of time to revisit the issue.
"It will be debated now, it will be debated in January, it will be debated next March as well, with the next budget," said Silver.
Governor Cuomo, speaking at the swearing in of his new economic development commissioner, says the budget is fine the way it is, without any new taxes and will be an "effective economic tool."