Bloomberg Tax
Free Newsletter Sign Up
Bloomberg Tax
Welcome
Go
Free Newsletter Sign Up

New York Budget Includes Gas Tax Suspension, Tax Relief (1)

April 7, 2022, 5:11 PMUpdated: April 7, 2022, 7:26 PM

New Yorkers will see relief at the gas pump, income tax cuts, and a homeowner rebate under a budget deal still being finalized.

The first of 10 bills S08009 that comprise the state’s multi-billion budget for fiscal 2023 trickled out Thursday afternoon. The rest of the budget was still being negotiated by Gov. Kathy Hochul (D) and Democratic majority leaders from the state Senate and Assembly, seven days past its due date.

The deal speeds up a scheduled reduction ...