“I wouldn’t have a problem looking at it,” Grisanti told Gannett’s Albany Bureau this afternoon.
Grisanti, the freshman lawmaker who represents a heavily Democratic district, said his larger concern has been with the current so-called millionaires’ tax that actually has a higher income-tax surcharge that starts at $200,000 for individual tax filers. He said the current structure in particular hurts small businesses.
He said he would be open to reviewing the governor’s proposal if it’s solely aimed at millionaires, saying that the revenue generated should be earmarked for a specific purpose not simply put into the state’s general fund.
“I’m open to it,” Grisanti said.
Sen. John Bonacic, R-Mount Hope, Orange County, said earlier today that he believes the GOP-led Senate would ultimately back a proposal by the Democratic governor to revamp the tax code. He has introduced legislation to keep higher income taxes on millionaires and use the money for property-tax relief for the middle class.
Sen. Greg Ball, R-Patterson, Putnam County, told Gannett’s Albany Bureau that he too would be willing to consider the governor’s proposal, but he would want a tax-code overhaul that closes tax loopholes for major corporations and benefits small businesses, who he said are the backbone of the state’s economy.
But Ball said he would not solely support increased taxes on the wealthy.
“I don’t support any new taxes in the current environment,” Ball explained. “But it’s painfully obvious and clear that we have a system at both the state and federal level where those at the lower end, the large percentage don’t pay anything, and the super wealthy with teams of attorneys and accountants can hide their assets and small=business owners and working families in the middle are flipping the biggest part of the bill.”
Still, Ball praised Cuomo for showing an ability to reach compromise on divisive issues.
“The governor has proven an uncanny ability to navigate extremely tough political issues and reach resolution. A comprehensive reform of the tax code would be the single greatest thing we could do to get New York back on track and create jobs by embracing those small-business owners that are being harassed and harangued by an inefficient tax code.”