Parents, do your back-to-school shopping now.
Starting in October, under the 123-day-late budget passed by the Senate last night, clothing priced at under $110 will once again be assessed a 4-percent sales tax.
That's one of the provisions to increase revenue.
Even so, Associated Press reports that budget isn't balanced and Republicans complain that it both raises taxes and increases spending (Gothamist).
The revenue package is expected to generate $1.5 billion dollars and was approved by the Senate on a 32-28 vote.
A soda tax was not included in the bill.
The total budget: $136 billion.
Buffalo News: New financing provision for UB not included in budget.
New York Times: With Connecticut trying to woo hedge funds, the budget doesn't include a change in state law that would have taxed bonuses as ordinary income.
Albany Times-Union: Statement from Gov. Paterson's office.
LoHud.com: Senate is planning property tax cap.
