State lawmakers approve $168 billion budgetPosted: Updated:
The state budget passed early Saturday morning, making New York the first state to enact a workaround of the Trump administration's tax law.
The budget is set to create an optional payroll tax and new charitable funds that will allow residents to skirt new federal limits on the deductibility of state and local taxes.
“We've been able to decouple our tax code from the IRS, which will allow New Yorkers to be able to write off the full amount of property taxes against their New York state income taxes,” said state Sen. David Carlucci.
New York Gov. Andrew Cuomo says the new $168.3 billion budget agreement reached with lawmakers includes surcharges on taxi, Uber and Lyft rides in Manhattan and a new state sexual harassment policy written following the #MeToo movement.
The budget deal also includes $1 billion in new education spending, bringing school spending to $26 billion.
“We have to make sure it's following the students,” said Sen. David Carlucci regarding education funding. “We have to make sure it's following where there are increases in poverty increases in new English language learners, we have to make sure that money is really going to the students who need it the most."
The agreement also contains investments in water quality and money to fight Lyme disease.