Key Votes

A 11838 - Tax Law Amendments - Key Vote

New York Key Votes

Peter Abbate, Jr. Did Not Vote on this Legislation.

Read statements Peter Abbate, Jr. made in this general time period.

Stages

Family

Issues

Stage Details

Legislation - Referred to Committee (Senate) -
Legislation - Bill Passed (House) (118-24) - (Key vote)

Title: Tax Law Amendments

Vote Smart's Synopsis:

Vote to pass a bill that provides for a credit against property taxes for households with incomes up to $250,000, and increases income tax rates for those with incomes over $1 million.

Highlights:
- Provides taxpayers with the following credits against property taxes, depending on their income level [Part A (sec. 1) (F-1) (3)]:
    - 25 percent for gross household incomes of less than $90,000; - 20 percent for gross household incomes between $90,000 and $125,000; and -15 percent for gross household incomes between $125,000 and $250,000.
- Increases the income tax rates for married individuals filing a joint return as follows [Part B (sec. 1) (a) (1)]:
    - $67,706 plus 7.85 percent of excess over $1 million for incomes between $1 million and $5 million; and - $381,706 plus 8.6 percent of excess over $5 million for incomes greater than $5 million.
- Increases the income tax rates for heads of households as follows [Part B (sec. 1) (b)]:
    - $67,937 plus 7.85 percent of excess over $1 million for incomes between $1 million and $5 million; and - $381,937 plus 8.6 percent of excess over $5 million for incomes greater than $5 million.
- Increases income tax rates for unmarried individuals or married individuals filing separate returns as follows [Part B (sec. 1) (c)]:
    - $68,103 plus 7.85 percent of excess over $1 million for incomes between $1 million and $5 million; and - $382,103 plus 8.6 percent of excess over $5 million for incomes greater than $5 million.
Legislation - Introduced (House) -

Committee Sponsors

Sponsors

  • Ronald J. 'Ron' Canestrari (NY - D) (Out Of Office)

Co-sponsors