Cuomo: Change way NY collects taxes to counter GOP tax law

Gov. Andrew Cuomo says a major change he is proposing in the way the state collects income taxes would negate some of the harm that the GOP tax law will do to New Yorkers with more than $10,000 in state and local taxes to deduct. Cuomo proposed as part of his 2018 state budget Tuesday to essentially do away with the state income tax on the wages earned by New Yorkers and replace it with an equivalent tax on employers.

Walters: Brown sees ramifications for killing the golden geese

To intertwine cliches, Gov. Jerry Brown let the cat out of the bag last week and acknowledged that he's concerned about killing the golden geese. Those geese are the few thousand Californians with the highest incomes whose taxes allow Brown and other California politicians to spend tens of billions of dollars a year and the new federal tax overhaul encourages them to take their money elsewhere.

Taxpayers could owe in 2019

Gary Cohn, director of the U.S. National Economic Council speaks as Treasury Secretary Steven Mnuchin during a meeting with members of the Senate Finance Committee at the U.S. Capitol in Washington, on Nov. 9, 2017. MUST CREDIT: Bloomberg photo by Andrew Harrer.
Posted in Tax

Del. lawmaker helps in passing of the Stop Taxing Death and Disability Act

Changes have been made to the existing list of tax-exempt student loan cancellations, after a local lawmaker says a new law will not tax student loans canceled as a result of death or permanent disability as income. The Office of United States Senator Chris Coons says on Tuesday, the Stop Taxing Death and Disabilities Act will eliminate the tax penalty on student loans that are forgiven due to death or permanent disability.

Kudlow: Rubio ‘Confused’ Over Trump Tax Policy

Veteran economic guru Larry Kudlow is baffled over why Senator Marco Rubio, who voted for President Donald Trump's tax bill, now claims he thinks that maybe companies got too good a tax break. "I thought we probably went too far on [helping] corporations," Rubio told The News-Press, a newspaper based in Fort Myers, Florida, in an interview published Thursday.