City Council Speaker Christine Quinn will be giving a State of the City address today at noon, and one big thing she will propose is a tax break for renters. The tax break would be $300; individual renters would be eligible if they earn $43,000 or less while the salary is $54,000 for married couples. Couples with one child would be eligible if they make less than $65,000; couples with two or more are eligible at $75,000 or less.
In order for the tax break to go into effect for what Quinn calls a "city of renters," the state legislature would need to approve it. And you'll be able to see Speaker Quinn's speech on NY1.
Also interesting, since tax season is upon us: Room Eight's Larry Littlefield looked at how young NYC couples pay almost three times in taxes than what a senior couple would pay.