Mayor Will Not Add More Tax Cuts

Mayor Bloomberg seemed to put the kibosh on adding more tax relief to the $1 billion tax cut package he is planning to pass in his city budget.

Asked yesterday about a new report showing that the combined state and city tax burden in the five boroughs is nearly 50% more than the 8 other biggest cities in the nation, Mr. Bloomberg said: "I would love to reduce taxes more, but unfortunately given the level of services the public wants we just have to have money to pay for those things."

His $1 billion tax cut proposal will reduce property taxes by about 5% for one year, eliminate the city sales taxes clothing and shoes, and provide relief for small businesses. As for next year, he said: "We'll have to see."