2009 State of the City - Issues

 Job Growth | Small Business | Reducing Unnecessary Spending
Innovative Revenue Sources | Public Safety | Tax Reform | Tenants and Housing

Tax Reform

"We’ve been forced to take a hard look at every part of our budget – both
where we're spending, and how we're raising revenue. And it's impossible
not to notice how unfair our current tax system is."

Eliminate City Income Tax for Families Earning Less Than $45,000 a Year
Excerpt from Speech:
"So let’s eliminate City income taxes for those families making less than $45,000 a year. It’ll put an average of 320 bucks back into their pockets. That may not sound like a lot to some folks. But for families struggling to get by, it’ll help put a little extra food on the table or pay the rent."

More Information:
Any family earning less than $45,000 a year combined will not have city income taxes taken from their paychecks.

Equitable Tax Policy
Excerpt from Speech:
"Right now, New York City taxes everyone making above $90,000 the same. It’s shameful – Bernie Madoff pays the exact same tax rate as a public school principal. That’s not sharing the burden. It’s a slap in the face."

More Information:
The City's top 4% of income earners (those making over $300,000 annually) to give a little more per paycheck back to the City.