Democrats want to abolish income tax for new Yorkers earning less than $50 thousand

Democrats want to abolish income tax for new Yorkers earning less than $50 thousand

Thanks to the initiative of the Independent Democratic Conference residents of new York with an income of less than 50,000 $ a year may be exempt from the payment of income income. According to the statement of IDC, this will allow low-income families to pay rent and other expenses:

«These people will remain over a thousand dollars a year — which they desperately need for rent and other expenses,» said IDC in its «One New Yorker Budget Agenda».

Democrats want to abolish income tax for new Yorkers earning less than $50 thousand

Married couples could save up to 1,456 $ per year and singles up to 1060 $. The city budget will receive a «hole» in size 352.1 million $.

«It’s a bad idea to offer a reduction of revenue when the Federal government changes its tax policy,» said Carol Kellerman, President of the Commission on the budget of citizens.

«I don’t think Albany needs to make such an offer, without providing alternatives to compensate for the loss. Three hundred fifty-two million dollars is a lot of money for needy new Yorkers».

Mayor bill de Blasio agreed that the loss of income on this scale would «seriously threaten the quality of municipal services on which new Yorkers rely.»

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