Schneiderman’s Tax on Higher-Income Earners Gains Support in Senate

ALBANY—As of today, 22 state senators have signed on to a bill that would enact a tax on New Yorkers earning over $250,000.
State Senators Pedro Espada Jr. and Diane Savino signed onto the bill after a long conference meeting Wednesday night. It measure was first introduced last week by State Senator Eric Schneiderman, but has not yet been endorsed by Majority Leader Malcolm Smith.
“There’s a strong sentiment that we go on the principles of shared sacrifice,” Schneiderman told me yesterday outside the Senate chamber. I asked him about a similar bill from State Senator Jeff Klein that also includes tax rebates for those earning less than $250,000.