On March 29, 2021, Senator Chris Van Hollen (D-MD) released a discussion draft of the Sensible Taxation and Equity Promotion (“STEP”) Act. According to press reports, the proposal is supported by fellow Democratic Senators Elizabeth Warren (MA), Sheldon Whitehouse (RI), Bernie Sanders (VT), and Cory Booker (NJ).
Senator Bernie Sanders, Chair of the Senate Finance Committee, and Senator Sheldon Whitehouse, Democratic Senator from Rhode Island, have introduced legislation that affects the federal estate and gift tax.
The New York State Senate and Assembly have recently released proposals to change the New York State estate tax. The proposals are part of the so-called “Budget bills” promulgated by each group. It is important to emphasize that Governor Cuomo has not proposed an increase to New York State estate tax in his proposed Budget bill. Thus, the Senate and Assembly proposals should be regarded as proposals, and not as faits accomplis.
On March 12, 2021, Governor Cuomo signed a bill requiring New York employers to provide employees with paid time off to receive the COVID-19 vaccination.
The New York State Department of Labor (the NYDOL) recently released new guidance (the Guidance) on the use of leave and benefits authorized by New York’s COVID-19 Sick Leave Law (the Law).