Assemblyman Edward C. Braunstein (D-Bayside) announced that he helped pass the Assembly’s 2017-18 one-house state budget proposal, which invests in vital programs and services that are beneficial to families in Northeast Queens. The final budget will be negotiated by the Assembly, Senate and Governor over the next few weeks.

The Assembly’s plan provides a total of $26.3 billion in education funding. That’s an increase of $1.8 billion over last year, and $887 million more than the executive’s proposal. The proposal provides initial funding for a four-year phase in of the State’s obligation for New York City public schools pursuant to the Campaign for Fiscal Equity.

In order to help students meet rising higher education costs, the Assembly budget proposal increases funding for the Tuition Assistance Program (TAP). The maximum TAP award would be raised to $5,500 per year and then increased to $6,500 over a four-year period. The Assembly also improves the Governor’s proposed Excelsior Scholarship program to provide free college tuition to more middle-class families. While the executive’s plan would provide free SUNY and CUNY tuition to families earning up to $125,000 per year, the Assembly proposal builds on this by expanding eligibility for the program and keeping up with the rising costs of college by raising the maximum income level to qualify to $150,000 in the fourth year of the program.

“If enacted, the Assembly’s one-house budget would ensure that recent graduates are not saddled with the burden of crushing student loan debt that takes decades to pay back and prevents them from buying their first home and affording other monthly expenses,” said Assemblyman Braunstein.

“The Assembly spending plan also rejects Governor Cuomo’s budget proposal to redirect Title XX funding that is used to support senior centers to other budgetary purposes. Restoring this funding would prevent 65 senior centers in New York City from closing,” said Assemblyman Braunstein.

The Assembly’s one-house budget resolution also includes $2 million for Naturally Occurring Retirement Communities (NORCs), such as Samuel Field Y’s Clearview Assistance Program, Deepdale Cares, and NORC WOW, which help keep seniors in their homes. The plan also provides $2 million in additional funding to support the Community Services for the Elderly program, which provides personal care, home delivered meals, transportation, senior centers, and other important services.

The Assembly’s budget proposal provides meaningful tax incentives for small and family-owned businesses, making it easier and more profitable to operate in New York State. Under the plan, the corporate income tax rate for small businesses with an income of $290,000 or less would be reduced to 4 percent from 6.5 percent. An estimated 42,000 businesses would see significant tax relief, helping them grow and create new jobs. Further, personal income tax filers who are small business owners would have the option to deduct 15 percent of their income from their adjusted gross income before the personal income tax rate is applied. This deduction would provide relief to over 1 million small businesses.

“Small businesses fuel our state’s economy,” said Assemblyman Braunstein. “The Assembly’s budget proposal opens Northeast Queens up for business by cutting taxes and helping our hardworking families get the jobs they need and deserve.”