The Problem - The Solution
Tax breaks for the rich and the resulting cuts in state support for schools and everything else have left New York 's working families footing the bill through high property taxes. But we can rollback excessive tax breaks for richest New Yorkers. We can use the money to provide property tax relief and make the critical investments we need in healthcare, mass transit and public schools. |
The "Circuit-Breaker" How? One idea is a “circuit breaker” – which caps how much you pay in property taxes based on your ability to pay. If your property tax bill exceeds the cap, the state gives you a rebate on your income tax. New York already has a circuit breaker program, but very few people qualify and the rebates are too small to make a real difference. The Circuit Breaker would give millions of New Yorkers significant tax relief, and shift the tax burden back to those who can most afford it. It's about fairness, It's about time. Sign the petition for a fair budget on the top of the page. |
More resources:
Position Paper: Righting the Balance
Fact Sheet: The WFP Tax Plan
Stiglitz to NY: For Economy, Raise Taxes on the Rich
Truth About Mass. Property Tax Cap
Poll: Tax on Millionaires supported by New Yorkers 4 – 1
Poll: Majority of NYers prefer ‘circuit breaker' tax cut to tax cap
"New York State is mortgaging its future to preserve billions in tax cuts that went mostly to the richest New Yorkers. We need a fair budget that provides real property tax relief for the middle class and funds healthcare, education, transit, and housing."
