Gov. Kathy Hochul proposes $1B middle-class tax cut in her State of State address
ALBANY – Gov. Kathy Hochul on Tuesday proposed a $1 billion middle-class tax cut and $3 billion in tax rebate checks, free community college tuition for high-demand jobs such as nursing and technology, and free meals for all public school students as part of a plan to make New York more affordable and safer.
In addition to supporting more measures to combat climate change, Hochul also said the state will take steps that could lead to the first expansion of nuclear power in decades.
Hochul in her fourth State of the State address recalled her early years of her family scrimping to provide “SPAM sandwiches on expired bread” to highlight her plan and commitment to make the state more affordable.
“I know many New Yorkers are struggling,” Hochul said, according to her prepared remarks.
She ticked off those concerns: “Inflation, sky-high rents, wages that don’t feel like they keep up. A changing economy, an influx of unexpected arrivals with great needs, and an unsettled world.”
A key provision is her proposal to provide an income tax break for households making as much as $323,200 a year. She said it will save households hundreds of dollars a year to nearly 77% of taxpayers.
Her proposal, subject to negotiations with the State Legislature, would cut tax rates across nine tax brackets to what she said would be their lowest levels in decades.
She also included her proposal for tax relief checks worth up to $500 to 8.6 million taxpayers this year. Joint tax filers who make less than $300,000 will get $500 checks and single filers who make less than $150,000 will get $300 checks.
Hochul also called for a tripling of the child tax credit. It would provide a tax credit to income tax filers of up to $1,000 per child under 4 years old and up to $500 per child 4 to 16 years old.
Along those lines, she also proposes free meals to all public school students to improve he nutrition of students and reduce the cost of food for their families.
She also wants to provide free college tuition to help businesses hire workers in jobs that are in demand, including nursing, teaching, technology and engineering. The state would pay for tuition, books and fees for those qualified.
As part of her program to speed resiliency efforts and emissions reductions to combat climate change, Hochul said the state will create a Master Plan for Responsible Advance Nuclear Development. She said that will guide any nuclear projects approved in the near future to reduce the cost of energy, while reducing reliance on the emissions of traditional power plants.
She said the state will support an effort by the owner of New York’s current nuclear plants for a federal planning grant to, as she stated in documents accompanying her speech, “explore the possibility of bringing a small modular reactor online.”
The governor also proposed several public safety measures, including provide law enforcement greater authority to detail a person with mental illness who is determined to be a danger to themselves or the public. This follows several high-profile violent incidents in the New York City subways.
Hochul’s focus on affordability and public safety mirrors the political platform of Republicans who have made inroads in the last five years in elections.
“From endless taxes, migrant spending and out of touch energy mandates to name a few, Democrat-driven policies are driving this state into the ground,” said Republican leader Rob Ortt of North Tonawanda.
ALBANY – Gov. Kathy Hochul on Tuesday proposed a $1 billion middle-class tax cut and $3 billion in tax rebate checks, free community college tuition for high-demand jobs such as nursing and technology, and free meals for all public school students as part of a plan to make New York more affordable and safer.
In addition to supporting more measures to combat climate change, Hochul also said the state will take steps that could lead to the first expansion of nuclear power in decades.
Hochul in her fourth State of the State address recalled her early years of her family scrimping to provide “SPAM sandwiches on expired bread” to highlight her plan and commitment to make the state more affordable.
“I know many New Yorkers are struggling,” Hochul said, according to her prepared remarks.
She ticked off those concerns: “Inflation, sky-high rents, wages that don’t feel like they keep up. A changing economy, an influx of unexpected arrivals with great needs, and an unsettled world.”
A key provision is her proposal to provide an income tax break for households making as much as $323,200 a year. She said it will save households hundreds of dollars a year to nearly 77% of taxpayers.
Her proposal, subject to negotiations with the State Legislature, would cut tax rates across nine tax brackets to what she said would be their lowest levels in decades.
She also included her proposal for tax relief checks worth up to $500 to 8.6 million taxpayers this year. Joint tax filers who make less than $300,000 will get $500 checks and single filers who make less than $150,000 will get $300 checks.
Hochul also called for a tripling of the child tax credit. It would provide a tax credit to income tax filers of up to $1,000 per child under 4 years old and up to $500 per child 4 to 16 years old.
Along those lines, she also proposes free meals to all public school students to improve he nutrition of students and reduce the cost of food for their families.
She also wants to provide free college tuition to help businesses hire workers in jobs that are in demand, including nursing, teaching, technology and engineering. The state would pay for tuition, books and fees for those qualified.
As part of her program to speed resiliency efforts and emissions reductions to combat climate change, Hochul said the state will create a Master Plan for Responsible Advance Nuclear Development. She said that will guide any nuclear projects approved in the near future to reduce the cost of energy, while reducing reliance on the emissions of traditional power plants.
She said the state will support an effort by the owner of New York’s current nuclear plants for a federal planning grant to, as she stated in documents accompanying her speech, “explore the possibility of bringing a small modular reactor online.”
The governor also proposed several public safety measures, including provide law enforcement greater authority to detail a person with mental illness who is determined to be a danger to themselves or the public. This follows several high-profile violent incidents in the New York City subways.
Hochul’s focus on affordability and public safety mirrors the political platform of Republicans who have made inroads in the last five years in elections.
“From endless taxes, migrant spending and out of touch energy mandates to name a few, Democrat-driven policies are driving this state into the ground,” said Republican leader Rob Ortt of North Tonawanda.
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