State Senator Patricia Canzoneri-Fitzpatrick, District 9 | Official U.S. Senate headshot
State Senator Patricia Canzoneri-Fitzpatrick, District 9 | Official U.S. Senate headshot
Today, Senate Republicans introduced legislation to address the affordability crisis affecting New Yorkers. The proposed bills, S.587 and S.3914, aim to reduce state income taxes on overtime pay and cash tips.
The intent is to allow residents to retain more of their earnings. "New Yorkers are being crushed by the affordability crisis, and it’s time for real relief," said a spokesperson involved with the initiative.
Bill S.587 seeks to eliminate state income taxes on cash tips regarded as wages or compensation. Meanwhile, Bill S.3914 focuses on removing state income taxes from overtime pay.
These legislative efforts form part of the Senate Republicans' Liberate New York agenda, which prioritizes making living in New York more affordable. Additionally, these measures align with federal efforts to remove taxes on tips and overtime pay.
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