Former state Comptroller Carl McCall and the founder of a New York City-based investment advisory firm will lead a commission tasked with brainstorming long-term fixes for New York’s tax code.
McCall and Peter Solomon of the Peter J. Solomon Company have been tapped by Gov. Andrew Cuomo to co-chair the New York State Tax Reform and Fairness Commission, according to a list obtained by Gannett’s Albany Bureau.
Cuomo made a total of ten picks for the panel, including M&T Bank CEO Robert Wilmers, state Taxation and Finance Commissioner Thomas Mattox and James Parrott, deputy director of the Fiscal Policy Institute. The conference leaders in the state Legislature are also expected to make selections, but those picks haven’t been made public yet.
The commission was formed as part of a December 2011 deal to tweak the state’s income-tax brackets, an agreement that came while the Legislature and Gov. Andrew Cuomo were under pressure from some lawmakers and advocacy groups to prevent an added tax on the state’s top earners from expiring at the end of the year. That deal included a new bracket for those making more than $2 million annually, which expires at the end of 2014.
According to the original news release, the commission will be asked to undertake “a comprehensive and objective review of the State’s taxation policy, including corporate, sales and personal income taxation and make revenue-neutral policy recommendations to improve the current tax system.”
The commission appears to have grown from the initial announcement. Originally it was slated to have 13 members, with seven selected by Cuomo.
Advocates for permanent reform to the state’s tax code had been left wondering what had become of the commission earlier this year since its membership hadn’t been named. Cuomo’s office had said a list of members would be forthcoming by the end of October — but Superstorm Sandy hit right at the end of the month, causing billions in damage to downstate New York and occupying much of the state’s focus.
McCall, who bested Cuomo in a 2002 gubernatorial primary, was selected by Cuomo last year to be chairman of the State University of New York Board of Trustees.
Here are Cuomo’s picks for the commission, according to the list:
- Carl McCall – Chairman, State University of New York Board of Trustees
- Peter Solomon – Founder, Peter J. Solomon Company
- J. Patrick Barrett- Chairman, Olympic Regional Development Authority
- Dall Forsythe – Former State Budget Director
- Thomas Mattox – Commissioner, Department of Taxation and Finance
- James Parrott – Deputy Director and Chief Economist, Fiscal Policy Institute
- Alan D. Schwartz – Executive Chairman, Guggenheim Partners
- James W. Wetzler – Deloitte Tax LLP, former New York State Tax Commissioner
- Robert G. Wilmers – Chairman and CEO, M&T Bank
- Deborah Wright – Chairman, President and CEO, Carver Bancorp, Inc. and Carver Federal Savings Bank