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NY to have a look at legalizing leisure marijuana

17 January, 2018, 02:12 | Author: Priscilla Morrison
  • NY to have a look at legalizing leisure marijuana

Cuomo has long expressed caution over relaxing the state's recreational-marijuana laws, and numerous restrictions in the medical-marijuana program were insisted on by him. Republican Assemblymember Gary Finch in a statement says the federal government didn't create New York's $4.4 billion deficit.

Even when he seemed to be cutting in some areas, he was really just proposing smaller increases.

Cuomo's proposal also includes a variety of "revenue actions" - tax and fee increases.

The overall impact the new tax laws will have on the state budget is still uncertain, DiNapoli said. Chief Operations Officer Rick Fish said he feels for every employer that would have to work with its staff to determine what pay cut would be fair to compensate the shifting tax burden.

He has signaled he wants to change how the state collects taxes through a payroll tax to replace the personal income tax as a way to respond to the capping of state and local tax deductions by the federal government. While that's far less than the education commissioner is seeking, it's an increase nonetheless.

The governor also is relying on some one-time revenues from bank settlements after the financial crisis to pay for improving the New York City subways, funding hospitals and other health care providers, and paying for some day-to-day state operating expenses. And it fails to make any significant changes in the way the state distributes school aid to ensure the neediest school districts get the funding they need. A final budget for the upcoming fiscal year is due by April 1. Senate Leader John Flanagan, R-Long Island, on Tuesday dismissed talk of a new payroll tax.

"Despite how complicated it may be, I think it's too important to not tackle it head on". "I don't have a problem with our looking at it", he said. This would mitigate the impact of the federal tax plan on high-income earners, he said.

Much of $4.4 billion deficit for the coming year Cuomo attributed to weaknesses in tax receipts.

Sen. Elaine Phillips (R-Flower Hill) said her office has conducted a survey in her district and her constituents don't appear to support recreational marijuana use. The executive budget would increase aid by 1.75 percent to $6,887,477 in the 2018-19 school year.

"Despite the pick-up in both national and global growth, New York State's private sector labor market continued to decelerate in 2017, " the financial plan states.



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