BLOOMBERG BUDGET:

NOT ENOUGH HELP FOR THE MIDDLE CLASS

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JUST MORE OF THE SAME

New York City - Today, Mayor Bloomberg unveiled his fiscal budget plan. Rep. Anthony Weiner (D-Queens & Brooklyn) released the following statement:

“Instead of progressive tax relief to help the middle class, this Administration has been marked by regressive tax increases followed by small cuts in election years.

“We urgently need a pro-middle class tax and budget strategy."

Weiner has proposed a middle class budget and tax plan that would reduce income taxes on the middle class while cutting waste out of the city budget.

Weiner would introduce a new middle class tax cut that would reduce taxes on everyone making $150,000 a year by 10%. The cost of the plan: $207 million.

To pay for it, Weiner would create a new 4.67% tax bracket for New Yorkers making $1 million a year or more in income.

Weiner would also cut or reform the bottom 5% percent worst performing city programs every year, effecting up to $1.7 billion in savings for the City.

And Weiner would fight to make the state pay taxes on their city owned real estate, a proposal that would generate $1.5 billion in additional revenue for the city.

The substantial savings over and above the cost of the tax cut under the Weiner plan would be allocated for other key priorities, like increases in education, health care, anti-poverty programs and affordable housing.