Support is growing for revisions to the New York state tax code including rate cuts, with Democratic Governor Andrew M. Cuomo and Republican legislative leaders proposing changes to every major levy in the state.
Senator Max Baucus, a Democrat from Montana and the chairman of the Senate Finance Committee, wants to cut corporate tax rates. But he’s finding that corporations are lining up to criticize his proposal.
Owens Corning wants a bigger market for its insulation. Cracker Barrel Old Country Store Inc. seeks to refurbish restaurants that churn out fried apples. Bank of New York Mellon Inc. is trying to avoid letting some competitors have an edge overseas.
Opponents of President Barack Obama’s proposed cap on charitable deductions say they have gotten a boost from a bipartisan letter by two Senate Finance Committee members that urges maintaining the tax break.