Middle-class New Yorkers will receive more than $2.2 billion in tax breaks this year, under budget legislation signed Monday by Gov. Andrew Cuomo (D).
The $212 billion budget deal, reached on April 6, allows the next planned phase of middle-class tax cuts enacted in 2016 to take effect. It will affect 4.8 million New Yorkers, Cuomo said at a press briefing.
The signed bill (A.3009C/S.2509C) also includes $500 million in property tax relief intended for about 1.3 million New Yorkers earning less than $250,000 a year.
The omnibus budget bill allows mobile sports betting, creating a ...