Governor Cuomo’s office has just released a new countdown clock to the new year – that they have dubbed the countdown to lower taxes for New Yorkers.

The tax code restructuring that was rushed through the legislature earlier this month does indeed lower taxes for most New Yorkers. But, Cuomo has been called a flip-flopper in some papers because the plan raises taxes on millionaires to a level that is higher than it would have been if the legislature took no action.

Cuomo, and legislative leaders, have insisted that this is a tax cut for all. And, most all New Yorkers will be paying less in taxes next year compared to what they paid this year.

Here’s the breakdown again on who will see a tax cut.

    Income Level
    Previous Tax Rate
    New Tax Rate
    $40,000 to $150,000
    6.85%
    6.45%
    $150,000 to $300,000
    6.85%
    6.65%
    $300,000 to $2 million
    7.85% – 8.97%
    6.85%
    Over $2 million
    8.97%
    8.82%
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