New York Tax Benefit Held Up

New York Tax Benefit Held Up

Mayor Mitchel, of New York, has vetoed a bill passed by the State Legislature which the volunteer firemen’s organizations, particularly in Brooklyn and Queens, succeeded in having passed to continue the distribution of the special tax of $300,000 per annum paid by the foreign fire insurance companies which do business in New York City. Of this sum, 45 per cent, is paid into the pension fund of the regular city fire department; 10 per cent, is paid to the Firemen’s Home, at Hudson, N. Y., and the remaining 45 per cent, is paid to the different volunteer firemen’s organizations in the five boroughs. This plan of distribution is to cease in 1917, and the bill, which the Mayor vetoed, sought to continue this distribution plan until 1932. The Mayor, in rejecting the bill, says that the subject should be investigated by the fire commissioner. and said: “It was pointed out by insurance companies on the argument, that it would be much more in the interest of Home Rule for this entire sum to be paid to the fire department, as the tax is raised here and paid here. The Fire Commissioner has urged me to disapprove the bill on the ground that the present plan of distribution, giving as it does 45 per cent, of the tax to the benevolent societies, should have a thorough investigation which, he says, was not done prior to the passage of this bill. There may be great merit in their claims and great need that some of the former volunteer associations continue to have their proportion of this tax. and it may be that some are paid more than is right. For the purpose, therefore, of re-investigation, and to enable the Fire Commissioner to report fully his views, I refuse to accept this bill for the city.”

No posts to display