Gov. Cuomo pushes to extend 'millionaire's tax'
Gov. Andrew Cuomo is proposing an extension of the so-called millionaire's tax on the wealthy, but his proposal is meeting resistance from Republicans in Albany.
Currently, anyone earning over $1 million pays an 8.82 percent tax. The tax brings in about $2 billion per year.
Supporters say extending the tax could mean tax breaks for the middle class.
Many Republicans want the tax to expire, which it is set to do at the end of the year.
There were some signs today that Gov. Andrew Cuomo and legislative leaders were close to an agreement. State Senate Majority Leader John Flanagan emerged from an hourlong closed-door meeting in the governor's office but declined to say if the Republican-led Senate would support extending the tax.
By law, a state budget has to be approved by Saturday.