Assemblyman Tom McKevitt (R,C,I-East Meadow) was joined by his colleagues to mark May 5 as New York's "Tax Freedom Day." To commemorate the day, McKevitt called for passage of several targeted legislative initiatives, which would reduce the crushing tax burden the state places on families.
"It is incredible that the average citizen in our state has to work more than four months just to pay all their taxes," said McKevitt. "This really puts the tax burden into perspective and underscores the fact that families are feeling the squeeze now more than ever. We need to pass legislation to put money back in the pockets of hardworking families."
"Tax Freedom Day" refers to the amount of days individuals must work to earn enough money to pay their combined tax obligations at the federal, state and local levels.
According to the independent, non-partisan Tax Foundation, New York's 2008 Tax Freedom Day is May 5, the third latest in the nation. Only New Jersey (May 7) and Connecticut (May 8) have Tax Freedom Days falling later than New York State.
On its website - www.taxfoundation.org - the Tax Foundation notes that in 2008, on average, Americans must work 74 days to afford their federal taxes and 39 additional days to pay state and local taxes. In addition, it takes 35 days to pay for their food, 13 days to pay for clothing, and 60 days for housing. Health care requires 50 days, transportation 29 days and recreation 21 days.
McKevitt called for the passage of several legislative initiatives that, if enacted this session, would have a direct impact on reducing the tax burden of New York families by reducing property taxes, enhancing the child-care credit, increasing the dependent credit and establishing a summertime gas tax holiday for motorists from Memorial Day to Labor Day 2008.