Blakeman plans to tap $3.8B state reserve for immediate NY tax relief
Republican Bruce Blakeman, Nassau County executive and GOP gubernatorial frontrunner, says he would use New York’s $3.8 billion reserve for economic uncertainties, or the $9.2 billion rainy-day fund if needed, to deliver immediate tax relief—including a 10% tax cut for earners under $250,000 and eliminating state tax on the first $50,000 for single filers and $100,000 for joint filers—while Gov. Hochul’s camp dismisses the plan; Blakeman promises to shut down Hochul’s reserve and return money within 100 days.