Governor Andrew Cuomo revealed his $168 billion dollar budget yesterday. It calls for a tax code change that would soften the federal tax plan.
The proposal of the state tax code restructure would have state income tax shifted from employees to their employers. Then companies would pay a payroll tax rather than an employee having income tax withheld.
Cuomo claims this would keep employees from having already taxed income factored into their federal returns and sys the federal tax code allows employers to deduct the expense.
His budget holds most spending flat to help eliminate the $4.4 billion deficit. It increases education spending by $769 million and has measures to address health care the opioid addiction crisis and economic development with the eighth round of Regional Economic Development Council, .
Lawmakers hope to approve a final budget by the April 1 deadline.