Pataki delivers $110.7B spending plan aimed at cutting local property taxes

George Pataki (R-NY) gave his last budget speech as New York State governor Tuesday and his $110.7 billion spending plan aims to cut local property tax bills with a direct $400 rebate. Also being sent to lawmakers is a $500 heating tax credit for lower income senior citizens, a $500 per child tax credit for parents with kids living in districts with underperforming schools and several tax incentives to lure and enhance business in New York. Marty Cantor, a political consultant and economic analyst, says Pataki would be better advised to take those tax cut dollars and reform state funding of schools. Cantor also says Pataki's budget of personal and business tax cuts and more money for schools and the environment, positions him as a socially progressive, fiscally conservative presidential candidate. The governor's proposed budget also calls for increased spending for schools, energy independence, elimination of the marriage penalty and estate tax, and the state picking up more of local government's Medicaid costs. The budget is due to be in place by April 1. Related article:

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