A co-leader of the New York State Senate is claiming victory for the Senate’s rejection of a cut in banking taxes proposed by Governor Andrew Cuomo.
Senate Independent Democratic Conference Leader Jeff Klein says the Senate budget resolution rejects Cuomo’s plan to cut banking taxes, and use the $350 million dollars in savings to pay for other programs, including paid family leave and subsidized child care.
“We plan to reject this corporate give away,” said Klein.
Klein made the announcement while surrounded by representatives of progressive groups, who praised the decision.
The Senate’s resolution is only a one house proposal at this stage. Assembly Democrats and Governor Cuomo support the bank tax cut, and they will both need to sign off on a final spending plan.