Updated 02/03/2009 01:37 PM
Silver Proposes Raising Taxes To Save Teaching Jobs
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Assembly Speaker Sheldon Silver is suggesting raising taxes on the wealthy to offset Mayor Michael Bloomberg's plan for massive layoffs of city teachers.
Speaking to leaders of the United Teachers Federation, the Democrat said that while the financial crisis will require cuts, the wealthy should chip in more.
One idea that's been floated is an increase in income taxes for those making $250,000 or more.
"Clearly, as a state, we need to ask ourselves if the best way to balance the budget is to make deep cuts in our classrooms or to ask the wealthiest New Yorkers to contribute a little bit more?" said Silver.
Bloomberg said in his budget address last week that more than 14,000 city educators would have to be laid off unless Washington and Albany helped offset the city's deficit.
Meanwhile, the governor and legislators are said to be closing in on a deal reducing this year's $1.7 billion state budget gap. The governor has set a March 1st deadline to complete next year's budget, which has a deficit of nearly $14 billion.