Latest News and Comment from Education

Monday, July 27, 2020

Heroes Act? Yes. And Budget Justice? Budget Justice? | JD2718

Heroes Act? Yes. And Budget Justice? Budget Justice? | JD2718

Heroes Act? Yes. And Budget Justice? Budget Justice?



Inequality. We know it exists. We, most of us, know it’s not right. But did you know there is a serious push to attack inequality, right here in New York State?
A package of legislation, collectively known as “Budget Justice” is in the State Senate and Assembly. Take a look:
List of Demands:
(1) Pass the Fund Our Future legislative package  to avoid +$10 billion dollars in budget cuts. Package includes:
  • Ultra-millionaires Tax (S.8164 / A.10364): Tax increases on those earning above $5 million, $10 million and $100 million per year
  • Billionaires Tax (S.8277 / A.10414): Outlaws unjust tax shelters to make billionaires pay income tax
  • Pied-a-terre Tax (S.44 / AA.4550): Sliding-scale tax on non-primary residences worth over five million dollars
  • Stock Transfer Tax (S.6203 / A.7791): Repeals rebate of .25% state sales tax on stock trades
  • Stock Buyback Tax (S.7629 / A.9748): New .5% sales tax on stock buybacks
  • Mezzanine Debt / Preferred Equity Tax (S.7231 / A.9041): Fee on mezzanine debt and preferred equity financing equal to mortgage recording tax
(2) Invest new revenue into addressing the systemic and accelerating inequities in our K-12 and Higher Education, Healthcare, Housing, and other Public Services as well as solutions to tackle growing crises like Climate Change and our crumbling Democracy.
(3) Pass the Budget Equity Act to amend Article VII of the New York State Constitution to give the CONTINUE READING: Heroes Act? Yes. And Budget Justice? Budget Justice? | JD2718