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JANUARY 1998

New York again leads nation in tax cuts

The latest analysis by the National Governor's Association shows that New York State has led the nation in cutting taxes for the third year in a row.

The NGA's annual Fiscal Survey of States says that New York's cuts last year in personal income taxes and business taxes in 1997 ranked it first in the nation and far ahead of any other state.

New York's cuts in business taxes in 1997 - $157.5 million -outstripped the $123 million in business tax cuts adopted by all the other 49 states combined. New York's personal income tax cuts in 1997 totalled $1.658 billion - compared to a total of $1.8 billion cut by all the other 49 states combined.

January 8, 1998