Tax hike ‘on the table’ despite NY getting $12 billion

The state government is expected to get $12 billion from President Biden’s coronavirus stimulus plan — but Gov. Cuomo said Sunday he may still have to hike taxes to offset the financial damage caused by the pandemic over the past year.​

He said the state needed $15 billion to make up the difference.​

“Tax increases are on the table … because you have damage to repair,” Cuomo said in a press call with reporters Sunday.​

Earlier in the day, Sen. Chuck Schumer, who helped shepherd the legislation through the Senate, proclaimed “help is on the way​​” ​for the Empire State.

“I say to beleaguered New Yorkers, help is on the way. A robust basket of $100 billion is headed New York’s way and will help just about every New Yorker,” the New York Democrat said during a news conference in Manhattan.

The House is expected to take up the Senate’s version of the relief bill on Tuesday.

The sweeping American Rescue Plan, which passed Saturday without a single Republican vote, will provide help for New Yorkers still awaiting a coronavirus vaccine, struggling theaters, restaurants, the subway system and people who fear eviction and worry about feeding their children, Schumer said.

He also said the “majority” of state residents will receive a $1,400 relief check.

“The robust package, the robust basket of aid that we have been able to put together and pass yesterday, will affect just about every aspect of New York life where there has been trouble,” Schumer said.

“I have listened to New Yorkers for months. They have told me of their problems,” he continued.

The senator broke down the tentative numbers, pending the House vote.

He said state government will get $12.569 billion, New York City will see $6.141 billion, as well as $3.907 billion for the state’s counties, $825 million for small cities, town and villages in the state, and $358 million for the state’s broadband program.

“This marks the second biggest stimulus bill in the nation’s history – second to the CARES Act — and it comes just in time, because Americans and New York still need real help to get through this,” Schumer said.

Individuals making $75,000 a year or less and couple​s​ earning​ $150,000 or less will be eligible for checks. ​

But the payment phases out for individuals making more than​ $80,000 a year and couples making more than $160,000.

Schools K-12 will receive $9 billion to support in-person teaching, with a portion of the funds dedicated to address learning loss and to implement summer enrichment and afterschool programs.

C​olleges and universities will get $2.6 billion​ and private K-12 schools will receive $257 million.