Remember when Gov. Andrew Cuomo and Albany leaders got together to deliver a tax cut to the middle class that would mean about $300 to $400 dollars more for average folks like me and you?
Well, here comes Washington to the rescue, to sweep those savings away like a tide over footprints on the beach.
If the federal payroll tax cut is not extended because the folks in Washington can't come together, New Yorkers would pay $7.1 billion more in taxes next year, according to Comptroller Tom DiNapoli.
Here's a wage-by-wage increase in taxes for New Yorkers if the payroll tax cut is allowed to expire:
People making $20,000 would pay $400 more
People making $40,000 would pay $800 more
People making $60,000 would pay $1,200 more
People making $80,000 would pay $1,600 more
People making $100,000 would pay $2,000 more
People making $110,100 (and above) would pay $2,202 more.
As you can see, the expiration of the payroll tax holiday would eclipse the savings that many New Yorkers will get from the state's tax deal.
Over the past year, Washington has been compared unfavorably to Albany because of the former's inability to get things done and the latter's new found prowess. Is there a more clear example than this of the difference between the two?