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Cuomo preps way for possible tax cut

Gov. Andrew M. Cuomo said that though the

Gov. Andrew M. Cuomo said that though the state faces a $1.7 billion deficit by the March 31 end of the fiscal year, he contends there will be a surplus "in essence" if he holds the line on spending for the next few months. (Dec. 3, 2013) (Credit: Getty Images)

Gov. Andrew M. Cuomo continues to set the table for some sort of tax-cut proposal for 2014, when he's up for re-election.

Though the state faces a $1.7 billion deficit by the March 31 end of the fiscal year, Cuomo contended there will be a surplus "in essence" if he holds the line on spending for the next few months.

"We do have funds to do a tax cut," Cuomo said in a radio interview last week.

He also said he wants to focus on property taxes, not income taxes. In 2011, Cuomo and state legislators hiked tax rates on those earning more than $1 million while lowering them for most other tax brackets.

Tags: Andrew Cuomo

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