BRONXVILLE, NY – February 2, 2021 – On January 19, Governor Cuomo was released the details of his 2021-2022 eexecutive budget proposal. The governor has asked the federal government for $ 15 billion in aid for Covid. With no way of telling the final amount that was delivered to New York, the governor's budget assumes $ 6 billion in additional federal aid as the bottom end of possible outcomes. As a Result, The $ 6 billion assumption results in a reductions in almost every category of the budget.
The executive bBudget is really the order of the day for the legislative year ahead and as it currently controls all three branches of the New York government Party, It is very likely that many of these initiatives will materialize.
After reading the whole thing Document, i weeded out the proposals that would directly affect residents.
At the village budget level, we get the small amount as Aid to the communities is reduced to $ 50,000 and our normal additional repayment of winter storm funding was not included in the budget.
Income tax of more than $ 5 million per year has been increased from 8.82% to 10.82%, while taxes for the middle class will decrease to 5.5% for the population $27,900 to $ 160,550 tax bracket and up to 6% for those in the $ 161,550- $ 323,200 bracket.
The The small business tax rate will be reduced from 6.5% to 4%, which will benefit an estimated 36,000 taxpayers and save them $ 35 million.
The interest rates on court judgments or accrued claims would be changed from a fixed rate of 9% to a market rate similar to that of the federal court system.
New Rochelle, Mount Vernon, White Plains and Yonkers would be given permanent authority to collect an additional 1% tax for a total of 4% of their currently approved additional tax rate.
All vacation rentals are subject to the same sales tax as traditional hotels, motels and B & Bs.
The governor proposes expanding the infrastructure budget by $ 25 billion to $ 275 billion through new investments in transit, roads and bridges. This is added to the $ 600 billion for Long Island Railroad, LaGuardia and JFK airports Javits Expansion of the center, four new subway stations on the Bronx Metro North and the Empire State Trail, and a $ 1 billion broadband program that ensures Internet access for all New Yorkers.
The budget will continue to support the $ 52 billion MTA capital plan, including $ 3 billion to make 70 subway stations accessible.
Nine billion are planned for affordable housing and $ 128 billion for the Homeless Housing Assistance Project.
The governor's primary goal in this budget is to ensure educational equity, as wealthier school districts spend approximately $ 36,000 per student as opposed to $ 13,000 per student in poorer districts. To ensure that our government funds are used to narrow the funding gap, the new budget will increase school aid by $ 826 millionillion with 86% of the funds go to districts with the greatest need.
In in addition, The governor proposed a new funding formula for school aid, which is to be established in the supervised districts.
The governor also suggests adding a diversity and tolerance curriculum in high schools.
The budget proposes legalizing the manufacture and sale of cannabis products, similar to Connecticut law, New Jersey and Pennsylvania. The governor is hoping for legalization End, “The excessive criminalization of this product has resulted in so many color communities being monitored over and over again locked up. " The law expressly preserves local the law of the community, time, place and Type of retail pharmacy. T.the entire tax benefit goes directly to the state.
The budget is to end the sale of vaping products and vaping-related ads for teenagers and to ban salese from tobacco and e-cigarettes in pharmacies.
in the In addition, the G.Overnor advocates making fentanyl analogs into a controlled substance with the ability to then criminal for their manufacture, sale and distribution.
Insulin co-payments whereuld be limited to $ 100 per month.
H.Health care premiums would be capped for 400,000 low-income New Yorkers.
Environmental funding would include $ 39 million for solid waste programs, $ 89 million for parks and recreation, and $ 152 millionon for open space programs and $$ 20 million for climate protection programs, with the budget continuing the $ 333 billion five-year plan to combat climate change.
Proposal to build two wind farms 20 miles off the coast of Long Island and to build an offshore wind tower Production facility in the P.or from Albany.
Comprehensive legislation to legalize and expand the e-bike and e-scooter network.
The governor is also proposing a bill to permanently ban fracking.
To restore confidence in election results nationwide, the governor is proposing a standard for automatically triggering a recount if the margin for state elections is within 0.2% and for local elections 0.5% of the votes cast.
Include sex in the state constitution as a protected class.
Legalize mobile sports games under a state system similar to the lottery.
Require officials to disclose their tax returns, including any state or commission representative, as well as any locally elected officials with salaries of $ 100,000 or more.
Abolition of the Pink Tax and prohibition of gender-based price discrimination for similar goods and servicesVice.
Prohibition of repeated high risk sex offenders from the MTA transit system.
Ban on foreign inflowsnce, (a single foreign entity with control of 5% or more ownership on Companies), of campaign contributions.