Assemblywoman Addie J. Russell, D-Theresa, wants to change the state tax rates that would “require the state’s highest earners to see modest increase in their tax rates, while providing tax savings for the vast majority of the residents of St. Lawrence [County].”

“Last week, I sponsored legislation to provide permanent middle-class tax cuts, expand eligibility criteria for the Earned Income Tax Credit (EITC) and make sure the wealthiest New Yorkers pay their fair share,“ she said.

Russell claims criticism of the proposal is off the mark.

"While there are some who suggest there is no need for tax reform and that we are pushing high-earners out of state, I strongly disagree,” she said.

The Assembly proposal would revise the state’s tax code to apply the current top personal income tax rate to all taxpayers earning $1 million and higher annually, while also raising the tax rate for those earning between $5 million to $10 million and those earning over $10 million, according to Russell.

“The number of taxpayers earning more than $1 million has grown over the last several years and the middle class is being left behind,“ Russell said. "Reforming our tax code would help North Country families who continue to struggle and would provide the state with additional revenue, which could be used to update our aging bridges and roads as well as reinvest in our schools.

"We must do the right thing. This legislation will help level the playing field and stimulate the economy to help strengthen the middle class and our families get ahead.”

For the state’s lowest earning workers, the Assembly proposal would increase the Earned Income Tax Credit (EITC) from 30 percent to 35 percent over two years, thereby boosting the average credit for more than 1.6 million New Yorkers.

The plan would cut taxes for middle-class families earning less than $150,000, building on recent tax reforms that created the lowest tax rates in decades, according to Russell.

The proposal calls for extending the surcharge on the state’s highest income earners and establishes new tax rates for those making more than $5 million and $10 million, Russell said.

The tax rates, under the Assembly proposal, would range from 6.25 percent for annual incomes between $40,000 and $150,000 to 8.82 percent for those earning between $1 million and $5 million and 9.82 percent for those with annual incomes over $10 million, she said.

Currently individuals earning between $20,550 and $77,149 per year pay a marginal tax of 6.45 percent.

Individuals earning $77,150 to $205,849 pay 6.65 percent.

Under this proposal anyone earning between $40,000-$150,000 would pay 6.25 percent.

For someone earning $40,000 per year, this would equate to a savings of about $80 per year.

For someone earning $150,000 per year, this would equate to a savings of about $600 per year.

Conversely individuals earning between $150,001 and $308,750 would see a tax hike from 6.65 percent to 6.85 percent.

Those earning between $308,750 and $1 million would see no increase, but anyone earning $1 million or more would pay substantially higher taxes.

U.S. Census data shows more than 96 percent of the households in St. Lawrence County and 95 percent of the households in Jefferson County earn under $150,000 per year, according to Russell.

Her 116th Assembly District covers all St. Lawrence County communities along the St. Lawrence River, plus Canton and Potsdam.