Streams

Tax extension failure could cost NYers $7.1 billion: DiNapoli

Thursday, December 22, 2011 - 01:07 PM

The state comptroller is weighing in on the federal fight over a payroll tax extension for workers. Comptroller Thomas DiNapoli is warning that the failure to come to an agreement that would extend the tax holiday could end up costing New Yorkers $7.1 billion in additional taxes next year.

"Partisanship has a $7.1 billion price tag for residents of this state if an agreement can’t be reached to extend the payroll tax cut and that’s simply not what New York families need right now," DiNapoli said in a statement.

And to his point, the Comptroller's office broke down the increase in taxes on various earners:

Wage        Tax Increase

$ 20,000     $400

$ 40,000     $800

$ 60,000     $1,200

$ 80,000     $1,600

$100,000    $2,000

$110,100+  $2,202

WNYC's It's A Free Country and other blogs have been covering the Washington gridlock over this, with lots of great insight into the issue.

Tags:

More in:

News, weather, Radiolab, Brian Lehrer and more.
Get the best of WNYC in your inbox, every morning.

Leave a Comment

Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.

Sponsored

"The Capitol Pressroom" with Susan Arbetter at 11 am

For show archives, please visit The Capitol Bureau's website here.

About The Empire

Everything you need to know about New York politics and governance. We aim for a ground-up approach to politics, reverse engineered to make the effect just as important as the players and the game they play. From the Long Island to The Thousand Islands, New York City Hall to the Capitol Building, The Empire's got you covered.

Check out WNYC's 2013 Mayor Tracker--the one-stop shop for info about the candidates, issues and trends in the upcoming New York City mayoral election.

 

Our Reporters

Feeds

Supported by