From CBS 2:The New York State legislature is considering a host of new tax increases to help deal with its budget crisis.
Now there's talk of restoring a tax break that many New York shoppers probably take for granted.
For the last three years, clothing and shoes costing less than $110 have been exempt from the state's four percent sales tax, costing New York $690 million in tax revenues each year.
With a state budget gap of $9.2 billion dollars and a budget that's three months late, there's talk of bring back the sales tax on clothes under $110.
Governor Paterson confirms that informal tax discussions with Albany lawmakers are underway.
"They have some proposals on the table," said Paterson. "We're reviewing them, and frankly, they don't sound bad."
7 comments:
"...costing New York $690 million in tax revenues each year."
Nice wording. "costing"
Its not as if the no tax was some generous gift the state gave us. Its not some necessity that they were generously refraining from the last few years. Its the opposite.
Its only "Costing" them because they cant manage a budget if their lives depended on it.
The gov't and the media make me sick
As an ex NY'er all I can say is put a true fiscal conservative in Albany and watch the tax cuts. Think: Chris Christie.Friends don't let friends vote for Obama and his Palestinian whores.
Bend over people, the government is broke.
Why can't our State Government live within their means and stop spending our money? The budget is overdue by about 85 days, yet all these legislators are getting paid their salaries. Why? They are not doing their job, but the little people have to pay for their incompetency. Clothes are a necessity. Stop balancing the budget on the backs of working families. Why not make the politicians give up their limosines and drivers? I bet that would save us some money -- and that's only for starters.
Someone has to pay for the illegals................
Well, this would certainly be a boon to New Jersey's clothing retailers.
Bring back the sales tax - personally I thought it was back.
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