Andrew Cuomo on Tax Reform 2002 Democratic Challenger NY Governor

NY has 2nd highest state and local tax burden in the nation

Freeze state taxes; cap local taxes; cap spending

• Freeze Taxes: Because New Yorkers--already among the most taxed in the nation--cannot afford to pay more taxes than they do already, Andrew Cuomo will freeze taxes: he not raise and will veto any increase in personal or corporate income taxes or sales tax.
• Impose a State Spending Cap: In order to address the financial crisis and permanently control State spending, a statutory and constitutional spending cap that requires the Governor to propose, and the Legislature to enact, a budget that limits State Operating Funds growth to the rate of inflation is necessary.
• Impose a Local Property Tax Cap: Spending must also be controlled at the local level. The local property tax cap would apply to all school districts and local governments and would be set at the lower of the inflation rate or two percent.

Tax business based on how much business they do in NY