Senate will say ‘no’ to bank tax break
Rick Karlin, Capitol bureau
IDC leader Jeff Klein appeared Thursday afternoon with a clutch of progressive leaders including Michael Kink of Strong Economy for All, NYPIRG’s Russ Haven and James Parrott and Frederick Floss of the Fiscal Policy Institute to tell reporters that the Senate’s budget resolution will reject a plan by Gov. Andrew Cuomo to fold the state’s bank tax into the corporate tax, while lowering the corporate rate.
“Working families need help, not banks,” said Klein, who has spent much of the session tacking left in the face of mainstream Democrats who blame him for losing their majority in the Senate in favor of the IDC-GOP coalition.
Holding back the proposed tax break would save about $350 million, which could go for a number of purposes, including a paid family leave measure (a Klein proposal) or even a property tax rebate — always popular in election years.
“These are folks that don’t really need help right now,” said Ron Deutsch of New Yorkers for Fiscal Fairness, echoing remarks by others about the veritable oceans of money that the state’s largest banks and their top executives are swimming in.
http://blog.timesunion.com/capitol/archives/208279/senate-will-say-no-to-bank-tax-break/
