Statement From Speaker Silver Regarding Comments From
Mayor Bloomberg On Assembly Budget Proposal,
Which Includes Small Increase In Income Tax For Those Who Earn
$1 Million Or More Per Year

Mayor Bloomberg said today that he does not support the Assembly Majority's plan for a slight increase in state income tax for those who earn $1 million or more each year.

By imposing this temporary modest tax increase on New York's wealthiest individuals, at a time when the state faces extraordinary fiscal challenges, the Assembly budget is able to provide hundreds of millions of dollars in additional aid for New York City schools and local revenue sharing payments to the city. Without it, the state may not be able to provide this support for the city.

The Mayor's comments suggest that he thinks that it is fairer to impose other taxes that would be an additional financial burden on working families. My Assembly Majority colleagues and I strongly disagree.