Sentences with phrase «city income tax increase»

Not exact matches

Currently, Flanagan and de Blasio are at odds on a new proposal from the mayor's office that would increase taxes on upper income earners in order to bolster the New York City subway system.

Upstate cities do not have the ability to increase income taxes, they rely mainly on a dwindling property tax base.

ALBANY — After a two - hour debate that touched on climate change and several anti-Semitic incidents at the City University of New York, Republicans in the state Senate endorsed a one - house budget resolution that shifts costs to New York City, increases aid for public schools and cuts taxes for middle - income New Yorkers.

On topic questions included whether the administration plans to increase low - income affordable housing production, what actions are required for the administration to count a unit of housing as «preserved», whether housing built with 421 (a) tax credits anywhere in the City should require affordable units, how the de Blasio administration counts housing underway at the end of the Bloomberg administration toward its goal, what was done in this housing complex to «preserve» these units, whether units counted as «preserved» are always on a 30 year agreement, the annual average of 20,000 units created or preserved as set forth in the mayor's ten year goal of 200,000 such units and how money was spent on the 17,000 units created or preserved in 2014.

The Mayor's proposal is straightforward: increase the income tax on people who can most easily bear it, and who benefit from the city's having a functioning public transit system whether or not they use it themselves.

The groups point to a 30 percent increase in high - income tax filers in New York City and a 10 percent jump in in the number of high - net - worth households in 2009, the same year the current surcharge on those making $ 250,000 or more took effect.

Paying off the interest and principal from the borrowing would come from a 10 - cent increase in the state's gas tax, half of a percent increase in the income tax rate for those who earn between $ 500,000 and $ 2 million and a $ 60 million contribution from New York City in the first year, with an extra $ 60 million added every year to the fifth year, capped at $ 300 million.

This year, the issues faces lawmakers and Cuomo have been especially complex: Congestion pricing for New York City, a $ 4.4 billion shortfall that's being plugged with the help of slowed spending and tax and fee increases and the possible adoption of a payroll tax to either replace or supplant the personal income tax.

All told, the sources said, the emerging budget deal would likely provide a total package close to what Mayor de Blasio has been seeking — though without the increase in the city income tax the mayor had been seeking to fund the expansion.

But the budget was also notable for what was not included — mainly, the City Council Fair Fares plan, which would provide reduce priced MetroCards for low - income New Yorkers, a $ 400 million property tax rebate and an increase in the general reserve fund.

During his fifth State of the City address, the mayor said his administration would «redouble» its efforts to increase the income tax rate for individuals who earn more than $ 500,000 a year and for couples who make more than $ 1 million.

In interviews with over a dozen state committee members, Capital heard common frustration with Cuomo's fiscal record — he blocked an income tax hike on wealthy city residents, cut corporate taxes, reduced school aid in 2011 (and slowly dialed it back up), reduced pensions for newly hired public workers and pushed for a cap on local property tax increases.

The city estimated only modest increases in tax revenue, because of lower revenue from income taxes and real estate sales taxes, offset by a rise in property tax receipts.

He continued to assert that the best way to fund it was through a small income tax increase on city residents earning more than $ 500,000 per year.

In total, the city has raised its revenue forecasts by $ 5.1 billion through FY 2017, largely because real estate values and sales activity are increasing faster than had been expected and personal income tax collections have been strong.

De Blasio is calling for an income tax increase on New Yorkers earning $ 500,000 or more to fund universal Pre-K, as well as provide quality after - school programs for middle school students across the city.

Personal income tax is forecast by the city to increase 11.1 percent this year and another 7.3 percent next year.

De Blasio promised to fund universal pre-K in New York City with a tax hike of about 0.5 percentage points on incomes of over half a million dollars each year, but hasn't been able to push that through the legislature in Albany (which must sign off on all NYC tax increases).

A federal district judge can order increases in property taxes, but not income taxes, to fund costly school - desegregation remedies in Kansas City, Mo., an appellate panel has ruled.

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Professional Experience CMG Worldwide Inc. (City, ST) 5/2008 — Present Finance Manager • Oversaw finances of intellectual property law firm generating $ 6 - $ 12 million in annual revenue • Hired, trained, supervised, and reviewed junior accounting associates and support staff • Authored and implemented corporate and departmental budgets • Analyzed expenses and recommended strategies to cut costs while increasing efficiency • Tracked and managed expenditures of approximately $ 100,000 per week • Verified accuracy of all expenses and revenues ensuring precise financial records • Prepared income statements, balance sheets, and monthly, quarterly, and yearly financial reports • Assisted senior leadership and outside personnel with the annual corporate audit • Operated and maintained the computerized accounting system and all hard files • Monitored and documented employee expense accounts, credit cards, and purchase orders • Managed general ledger and various credit, checking, stock, and other corporate accounts • Created monthly clientele reports detailing expenses and revenues from each account • Proficient in Microsoft Money, Quicken, QuickBooks, Tax Cut, Turbo Tax, and other software