New York City – Promising to bring a new “commitment to the middle class and poor people of New York City”, Rep. Anthony Weiner (D-Queens & Brooklyn) today unveiled a plan  to lower taxes for every New Yorker making less than $150,000 a year.

Weiner unveiled his middle class tax cut proposal as part of a package of reforms designed to end wasteful city spending, make Albany pay its fair share in taxes to New York City, and ensure that when the City sells property, it’s taxpayers who get the best deal.

Cut Taxes on New Yorkers Making Less Than $150,000 – The Mayor doesn’t think working families in New York are overtaxed, but Rep. Weiner does. The first step in Weiner’s tax relief plan: a 10% tax cut for every New Yorker making less than $150,000 a year. To pay for it, Weiner would start by establishing a new tax bracket for New Yorkers making more than $1 million a year, with a marginal tax rate of 4.67%.

Cut Least Efficient 5% of City Budget—Every Year – Cutting taxes requires cutting spending too. Weiner proposes that every year the Mayor identify the programs that make up the least efficient 5% of the City’s budget, and cut or reform them. That would bring savings of up to $1.7 billion.

Make Albany Pay Fair Share of Taxes on City Owned Properties – Only 40% of New York City real estate is taxed at its total assessed value, and a prime culprit is the state, which owns more than 1,000 city properties but pays taxes on only 12. Weiner would fight for full real estate taxes on properties owned by the state and state-affiliated authorities, generating at least $1.5 billion in revenue for the City.

Require All Sales of City Property to Be Subject to Open Bids – If Mayor Bloomberg had his way, the Jets would have been awarded the rights to the Hudson Rail Yards at a fraction of its market price. It was opening the bid process that drove up the price. Weiner’s rule would require that the sale of any city property go through an open bidding process to ensure that New York City gets the best deal.

Invest in Priorities First – Cutting taxes and eliminating the fat from the budget is not enough—when the city does spend, it has to spend wisely, by investing in real priorities first. Weiner proposes increasing teacher salaries to retain the best teachers, making it easier for small businesses to afford health insurance, putting more police on the streets, and marshalling the resources of non-profits throughout the city under a new “Non-Profit Czar” to eliminate childhood hunger.

In March, Mayor Bloomberg said: “If you think taxes are too high, I would argue you’re probably a little bit out-of-step with businesses that are coming here.” [New York Sun, 3/2/05]

Rep. Weiner has a fundamentally different view.

“The Mayor says he doesn’t think New Yorkers are overtaxed, but working families in New York City know that’s just not true,” said Rep. Weiner. “My promise to middle class New Yorkers is that I will not raise your taxes--in fact, I’ll cut them. We will have a more progressive, fairer tax code in this City.”

Weiner delivered the speech at the Fordham University Law School, in Manhattan. It was his sixth speech detailing his vision for New York City. Previously he has addressed hunger in the City, outlined his five borough economic development plan, detailed his educational priorities, proposed a series of good government reforms, and called for an end to backroom deals and pay to play at City Hall.