Progressive Groups Line Up For NY Millionaires Tax

A coalition of liberal-leaning groups today released a joint statement calling on aNew Yorkversion of the “Buffett Rule” as proposed by President Obama.

The plan, which would increase the tax rates on the wealthy, was proposed by Obama today as a means of controlling the nation’s yawning deficit.

The groups, a veritable who’s who of Albany’s lefty lobby, included in the joint statement are: Strong Economy for All Coalition, Growing Together NY, New Yorkers for Fiscal Fairness, United NY, Alliance for Quality Education, Citizen Action of New York, Human Services Council, New York Communities for Change, New Deal for New York, Make The Road New York, Center for Working Families

Gov. Andrew Cuomo earlier today declined to immeidately endorse the Obama plan saying he needs to review the specifics, but added that he faced a different set of circumstances when he supported allowing a surchage to expire on upper income earners.

Instead, Cuomo ushered in a budget that cut into health care and education while closing a $10 billion deficit. The state still faces a gap of more than $3 billion in the coming 2012-13 budget year which begins April 1.

The coalition says the tax increase ensures the rich pay what they say is their fair share.

“We support President Obama’s federal tax-reform proposal to assure fair-share tax payments from millionaires and wind down tax cuts for the wealthy. We urge support of these proposals in Washington, and we urge support for similar policies in Albany. It’s not right for middle-class families to pay higher tax rates than millionaires and billionaires. The “Buffett Rule” being proposed by the President would make sure that high earning households can’t use loopholes and shelters to defeat progressive tax rates currently in place at the federal level. And it’s not right to cut taxes on the well off when we’re in a fiscal crisis.”

And the groups urged Cuomo and state lawmakers to take action now on increasing taxes for the wealthy, a move that is pretty unlikely.

We urge Governor Cuomo and the Legislature to take the same steps in Albany as President Obama is taking in Washington:

• Stop the planned $5 billion tax cut for the wealthiest New Yorkers;
• Implement progressive tax reforms that include new brackets on high-end households;
• Restore the worst cuts to schools, human services and local governments;
• Invest in real job creation initiatives to put New Yorkers back to work.

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