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May 9, 2001

Senator Bruno renews his call for $2.2 billion in new tax cuts

Senate Majority Leader Joseph Bruno Wednesday convened a meeting of the Joint Legislative Budget General Conference Committee and renewed his call for $2.2 billion in new tax cuts.

No Senate or Assembly Democrats on the conference committee attended the meeting.

The Senate's package won approval of the Senate Finance Committee Wednesday. It may be considered by the full Senate as soon as next week.

Business-related tax cuts: The plan includes business-related tax cuts. Specifically, it would:

The Senate has also urged repeal of the sales tax on gasoline and diesel fuel. Assembly Minority Leader John Faso has also urged this tax cut.

Other proposed tax cuts: As gasoline prices in recent weeks have increase, the Senate has increased its emphasis on the need to eliminate the sales tax on gasoline and diesel fuel. Assembly Minority Leader John Faso has also urged this tax cut.

Bruno said the Senate plan would save consumers 8 cents a gallon if, as expected, gas prices reach $2 a gallon this summer. Total savings for New York motorists would reach $400 million under this plan, he estimated.

The Senate plan would also: