Cuomo proposes income tax increases, tax credits for restaurants

Gov. Andrew Cuomo has two major asks of the incoming Biden administration: $15 billion in federal aid and a repeal of the cap on state and local tax deductions. During Tuesday’s address on his proposed fiscal year 2022 budget, Cuomo said the state would “pursue litigation” if it doesn’t receive a “fair share” of a $1.9 trillion relief bill President-elect Joe Biden pitched last week. The bill includes $350 billion in proposed federal funding for

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De Blasio restores $466M to housing capital budget

The de Blasio administration has backtracked on its plans to cut $1 billion from the city’s affordable housing budget. Mayor Bill de Blasio announced Thursday that $466 million would be restored to the Department of Housing Preservation and Development’s fiscal 2021 capital budget to “address urgent affordable housing needs.” In April, the mayor proposed cutting $583 million from fiscal 2020 and $457 million in 2021, as part of a broader attempt to address the city’s

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