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Legislature outlines one-house budget proposals

News10 ABC

March 18, 2021

Despite recent allegations against Gov. Andrew Cuomo, the state budget is still due by April 1, and lawmakers are at work. The Senate and Assembly have put out their one-house budget proposals.

“What we’re seeing from the legislative one-house proposals is that the Senate and the Assembly are much closer to one another than they are to what the Governor proposed for the budget in January,” said Citizens Budget Commission New York Senior Research Associate Patrick Orecki.

Orecki says clear similarities are shown in the revenue raiser plans.

“Both the Senate and the Assembly proposed a personal income tax increase, especially on high income earners, they included some increases in estate taxes, in corporate taxes, and a surcharge on capital gains income,” he said.