Opposition Grows to Gov. Cuomo's Effort to Issue Billion-Dollar Tax Break to New York's Millionaires

Calling Cuomo's argument "Snake oil," they advance fight against governor's signature tax cut

NEW YORK, NY (08/10/2011)(readMedia)-- Outside CUNY's Baruch campus this morning, low-income New Yorkers working with the New Deal for New York campaign voiced opposition to Governor Andrew Cuomo's effort to issue a $4.5 billion dollar tax cut to New York's wealthiest millionaires. It will be public university students, such as those at Baruch, as well as New Yorkers that rely on public safety or health services, youth and elderly programs, social safety net programs and K-12 education that will be forced to pay for Cuomo's signature tax cut for millionaires.

"New Yorkers don't buy the snake oil that tax breaks for millionaires will lead to jobs, which is why more than 7 in 10 people want to see the millionaires tax extended," said Robert Tolbert, a VOCAL-NY leader and Board member. "In fact, the reverse is true. Giving away more than $4 billion to the richest New Yorkers is sure to mean fewer public services and fewer jobs, slowing down our economic recovery."

VOCAL-NY and Community Voices Heard, which had led a similar demonstration the day before in New Paltz, urged those entering a meeting chaired by Lt. Governor Duffy to voice opposition to the Governor's effort to issue the millionaire's tax cut, which would go into effect on December 31, 2011.

The groups argued that Cuomo's choice to provide millionaires with this billion-dollar tax cut will only exacerbate inequality in New York State, which already stands as the inequality capitol of the United States.

If Gov. Cuomo's signature tax cut stands, a family making $40,000 this year will pay the same tax rate as one that makes $40 million a year, forcing more and more service cuts on top of those that have already been leveled over the last three years of austerity.

The groups were handing out flyers outside the Governor's New York City Regional Economic Development Council meeting, which was being held behind closed doors at the Baruch campus.

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More information on New Deal for New York can be found at www.NewDealForNewYork.org.