The Nation - News from April 11, 1985
The largest personal income tax cut package in New York history was signed into law by Gov. Mario M. Cuomo, who also approved continuation of some consumer and business taxes. The tax cuts will be phased in starting this year, and Cuomo said that almost 500,000 low-income residents will be taken off the state’s tax rolls. Under the plan, a family of four earning $26,000 with average itemized deductions would save about $620. New Yorkers are expected to save about $635 million in income taxes this year and $955 million in 1986.
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