New York City – Today, Bronx Borough President Fernando Ferrer proposed a stock transfer tax. Rep. Anthony Weiner (D-Queens & Brooklyn) released the following statement:

“The idea of taxing this New York business and job creator is sheer folly.

“It will be a gift to those cities that seek to take our industries and our jobs.

“It’s like a politician from Wisconsin proposing a dairy tax.

“It is simply the wrong idea for New York, and New York’s middle class.”

Last week, Weiner proposed 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 also proposed cutting or reforming the bottom 5% percent worst performing city programs every year, effecting up to $1.7 billion in savings 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.