Gov. Cuomo says state will look into impact of legal marijuana

NY state would end income taxes on wage earners and make up the revenue with an employer payroll tax that's federally deductible as part of a restructuring plan that Governor Andrew Cuomo is recommending to mitigate harmful effects of the new USA tax code.

In his 2018 State of the State proposals, Gov. Andrew Cuomo announced his commitment to workforce development, which could have significant implications for statewide mental health reform and individuals' access to services.

"At the end of the transaction, it costs business nothing and the employee is held harmless from ... the loss of (state and local tax) deductibility", Cuomo said.

Overall, the state's budget will reach $168 billion, up from an estimated spending plan this year of $164 billion.

Meanwhile, relatives of New Yorkers who suffered through terminal illnesses returned to Albany last week to urge passage of a law authorizing people with fatal diseases to seek life-ending medication from a physician. Overall, he said 12 states would be targeted by limiting the SALT deductions to help pay for other cuts. They'd shift to employers, who are still able to use federal tax deductions.

"Employers pay a wage tax which would be equal to that individual's income tax". For other sources of income - including investment gains - the state would continue to run its personal income tax system, Cuomo said.

It would remove state income taxes from workers, which he said are "double-taxed" under the new federal tax code. Almost all school districts in Erie County would see Foundation Aid increases of under 2 percent under the Cuomo plan.

That's playing with fiscal fire: Cuomo knows NY has the highest state and local tax burden in America, so why would he raise taxes further - making the burden heavier and the state less attractive to both businesses and residents?

Under Cuomo's spending plan, the Auburn school district's foundation aid would increase by 1.38 percent to $30,194,277.

"We need to invest in the education of all NY students", Elia and Rosa said in a joint statement.

The Assembly leader has been among Cuomo's most vocal allies on efforts for NY to try to end-run the new federal tax law and its limit on state and local taxes.

"I think we need to do a study", she said.

In exchange for the charitable contribution, the state would issue the resident a tax credit, although it's not likely to be dollar for dollar, Cuomo said.

The state Department of Taxation and Finance is set to release a preliminary report on tax changes on Wednesday, Cuomo said during his budget address.

Sen. John Brooks (D-Seaford) said he has always supported medical marijuana and agreed with Cuomo's idea to study recreational legalization. In all, the state said $1.9 billion came in 2017 by such pre-filing of state taxes.

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