Results tagged “incometax”

Last night, the State Legislature struck a deal on the budget. According to the Times-Union, "In broad strokes, the agreement closes the state's estimated $16.2 billion budget deficit through $6 billion in federal stimulus dollars, $6 billion in cuts to an array of programs, and $4 billion in new revenue through an increase in the personal income tax on affluent New Yorkers."

Charles Rangel sure seems to know how to get himself tangled up these days. While his tax liabilities remained a top story yesterday, he became the center of new controversy when he referred to Sarah Palin as "disabled."

After reports yesterday that House Speaker Nancy Pelosi asked Representative Charles Rangel to step down as the chairman of the powerful House Ways and Means Committee, his fate is unclear. NY1 reports he's keeping the chairmanship, while Politico reports that Pelosi says no decision has been made.

Rangel claims that he just discovered the errors and that once an accounting expert performs a "thorough, independent review," he will publicly release his tax returns from the past 20 years. Rangel continues to defend himself that since these are all errors of omission that he has "done nothing to dishonor myself, my colleagues, or this House." He also refuses to entertain the idea that he will have to step down as chairman of the tax-writing House Ways and Means Committee.