The New York General Assembly and Governor Andrew Cuomo reached agreement on a spending plan for the current fiscal year that calls on several significant tax increases to balance the $212 billion spending plan. Notwithstanding billions of dollars coming in federal largesse from the recently passed American Rescue Plan Act of 2021, New Yorkers will see two new categories added to the existing millionaires tax – those earning over $5 million per year (10.3 percent tax) and those with over $25 million in income (taxed at 10.9%) – and a .75% increase (up to 9.65%) in the existing tax on incomes over $1 million. In addition, the budget, which represents a 9.27% increase over last year and over 22.5% increase from just two years ago, authorizes an increase in the corporate franchise tax on businesses making more than $5 million a year from the current 6.5% to 7.25% through 2024 and legalizes both recreational marijuana and sports betting in the Empire State. Small businesses will be eligible for assistance from a $800 million grant program being set up for those as well as an additional $200 million in tax credits. Perhaps most striking in light of the illegal immigration crisis at the southern US border, New York taxpayers will also be providing $2.1 billion in direct payments to illegal immigrants who were deemed ineligible – well, they are in the country illegally – for other forms of state or federal aid. These “excluded workers” as they are called, for up to $15,600 in direct cash assistance! You can’t make this up!!!