Senate rejects Cuomo’s push for renters tax credit

Seth Wenig/AP

Gov. Cuomo’s proposed tax credit benefits married couples with dependents and renters who are seniors with incomes up to $ 100,000. It would cost the state $ 200 million in the fiscal year beginning April 1 and $ 400 million annually in future years.

A budget plan put forward by the state Senate last week would get rid of tax credit for mostly New York City renters pushed by Gov. Cuomo.

Cuomo and Senate Democrats decried the move.

The governor’s proposed tax credit benefits married couples with dependents and renters who are seniors with incomes up to $ 100,000.

It would cost the state $ 200 million in the fiscal year beginning April 1 and $ 400 million annually in future years.

“We agree with Gov. Cuomo that any budget deal must protect all New Yorkers, regardless of where they live,” Senate Democratic spokesman Mike Murphy said.

A spokesman for the five dissident Dems who help control the chamber with the Republicans said the Senate plan passed last week includes a rent freeze for seniors, which he said covers a “large pool” of the population of Cuomo’s renter tax credit.

“We are committed to working toward broader relief,” said the spokesman, Eric Soufer.

The Assembly Democrats are pushing a wider renter tax credit than the governor proposed.

The issue will be part of the upcoming budget talks as state leaders look to have a new spending plan in place by the end of the month.

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