Governor Andrew Cuomo held the press at arm’s length on Wednesday as he described the state’s tax plan going into the fiscal year 2022 which raises taxes in only two categories – a PIT (personal income tax) surcharge and a corporate franchise tax.
These two raise $2.7 billion and $750 million respectively to close the additional budget gap left by the COVID-19 pandemic and the $12.6 unrestricted federal aid provided through the American Rescue Act, according to Cuomo.
