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Jewelry tax eyed to help close New York budget gap
Budget negotiators in Albany discuss a new 5 percent jewelry tax on purchases over 5,000 as part of a roughly $1 billion tax package to close a $1.5 billion budget shortfall. Senate Republicans say the levy could replace a chunk of a 15 percent corporate surcharge, while Gov. Mario Cuomo and legislative leaders seek a broader deal by weekend.
MENTIONED IN THIS ARTICLE
Albany
Senate
Republicans
GOP
Mario Cuomo
Cuomo
Democratic Assembly
Mel Miller
Leaness Raph Marino
New York
Ault
Assembly
John McArdle
Marino