Since 2004, $400 rebate checks have been sent out to homeowners courtesy of the Bloomberg administration. Well, no more. The mayor is immediately axing the program, reports the NY Times, to help shore up the expected $4 billion budget deficit. Other quick fixes: raising personal income tax by as much as 15 percent; hiking the city's portion of the state sales tax by as much as three percent; and charging a nickel for every plastic bag a consumer picks up at a store. "The mayor also detailed $1.5 billion in proposed budget cuts that would affect virtually every agency in city government," they write. "The measures include closing libraries for a half day, eliminating dental programs and closing a clinic in East Harlem." Should Wall Street rally and the economy heal, the mayor said, checks will go out again.
Mayor Cancels Rebates for Homeowners [NY Times]
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End of the $400 Property Tax Rebate
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