Bloomberg Tax
April 2, 2020, 11:09 PM

New York Budget Deal Includes Only Small Tax Changes

John Herzfeld
John Herzfeld
Staff Correspondent
Keshia Clukey
Keshia Clukey

New York State’s $177 billion budget for the fiscal year that began April 1 includes a small package of tax provisions, but it left the big issues untouched in deliberations colored by the new coronavirus public health emergency.

The revenue bill (A.9509B/S.7509B), approved as part of a broad deal announced Thursday between Gov. Andrew M. Cuomo (D) and legislative leaders, didn’t include the governor’s January proposals for tax relief to small business and farmers.

Efforts by progressive Democrats to raise taxes on the wealthy also fell short, despite a state revenue hole of at least $10 billion created ...

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