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Federal Tax Reform

Politics
Cuomo Blames Trump For $2.3B State Budget Shortfall, Eyes Infrastructure, Education For Cuts Cuomo Blames Trump For $2.3B State Budget Shortfall, Eyes Infrastructure, Education For Cuts
Cuomo Blames Trump For $2.3B State Budget Shortfall, Eyes Infrastructure, Education For Cuts Largely blaming the new federal tax code signed into law by President Trump, New York Gov. Andrew Cuomo announced that the state is facing a shortfall of more than $2 billion in revenue after December and January saw a drop in income tax. Since announcing his $176 billion budget plan last month, Cuomo said that the state income tax revenues have dropped by $2.3 billion in December and January, which may force the state to limit spending. The governor attributed the decline to “the federal tax legislation's elimination of full state and local tax deductibility, which disproportionately impact…

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by Zak Failla
Real Estate
Westchester's Slowing Housing Market Sparks Statewide Concerns, Report Says Westchester's Slowing Housing Market Sparks Statewide Concerns, Report Says
Westchester's Slowing Housing Market Sparks Statewide Concerns, Report Says Recent news that home sales in Westchester County declined by 18 percent during the second quarter of 2018, compared to the same period in 2017, should alarm local elected officials as well as those at the state level, according to this Op Ed piece in Crain's New York. It marks the fourth consecutive quarterly decline in Westchester’s home sales. Westchester County residents enjoy the highest per capita incomes in New York state, second only to Manhattan (New York County.) "Yet, even this county is not immune to the adverse effects of (President) Trump’s federal tax reform, wrote Ma…

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by Jon Craig
Politics
Gov. Cuomo Unveils State Budget Gov. Cuomo Unveils State Budget
Gov. Cuomo Unveils State Budget New York Gov. Andrew Cuomo unveiled his $168 billion 2018-2019 budget to lawmakers on Tuesday. Cuomo's budget includes a three-percent increase in funding for schools and a one-percent increase in funding for higher education. The budget also increases funding for capital projects by 14 percent and health care by three-percent. The budget also reduces spending on transportation, community colleges, mental hygiene and state agencies. State aid to municipalities and counties will be frozen.  The governor said his office is still working on a plan to combat the new federal tax reform bill tha…

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by Sam Barron
Politics
Latimer Sworn In As County Executive By Gov. Cuomo Latimer Sworn In As County Executive By Gov. Cuomo
Latimer Sworn In As County Executive By Gov. Cuomo VALHALLA, N.Y. -- At his swearing-in ceremony, County Executive George Latimer received a little help from an old Albany colleague.Latimer (D-Rye), a former state senator had Gov. Andrew Cuomo (D-New Castle) administer his oath of office at an inauguration ceremony at Westchester Community College in Valhalla. Latimer officially took office on Jan. 1 after defeating former County Executive Rob Astorino. "Civility is not a dirty word," Latimer said. "When we raise rudeness to a right, we work to destroy this fragile democracy" At the ceremony, Cuomo continued his criticis…

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by Sam Barron
Politics
Gov. Cuomo Touts Progressive Agenda At State Of State Address Gov. Cuomo Touts Progressive Agenda At State Of State Address
Gov. Cuomo Touts Progressive Agenda At State Of State Address New York Gov. Andrew Cuomo said New York was once again the nation's vanguard for social justice at his annual State of the State address Tuesday. The governor's address included proposed criminal justice reform and initiatives to combat the new federal tax reform bill that Cuomo called a federal assault on the state. "The state has made unprecedented progress," Cuomo, who is running for a third term this year, said. "The economy is stronger than ever. Crime is down statewide. We have more high school graduates. We have conserved more land than ever before. We have made histo…

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by Sam Barron