Tax breaks given to buyers of yachts, private planes in New York State budget

BY Kenneth Lovett , Erin Durkin , Glenn Blain
NEW YORK DAILY NEWS
Published: Monday, March 30, 2015, 12:41 PM
Updated: Monday, March 30, 2015, 9:35 PM
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ALBANY - They couldn't spare a penny for minimum-wage workers, but state lawmakers found a way to help wealthy boat and plane owners.
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The state budget deal hammered out by Gov.Cuomo and legislative leaders gives lucrative tax breaks for the purchases of mega yachts and private airplanes.
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"It's completely unjust that, while the legislators aren't giving workers like me a raise, they're giving this benefit to millionaires and billionaires for their yachts," said Manuel Melendez, a minimum-wage restaurant worker in Brooklyn and member of the immigrant activist group Make the Road New York.
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"It shows that our government is working for the wealthy and not for me," Melendez added.
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Under the budget deal, people buying a yacht in New York would pay sales tax on only the the first $230,000 of the purchase price, regardless of the vessel's total cost.
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