N.Y. Governor Eliot Spitzer has proposed upping the current surcharge on Empire State auto insurance policies by $15 as part of his statewide budget plan.
That increase would raise to $20 the surcharge on any New York auto insurance policy.
The bump in surcharges – expected to generate a reported $140 million for the state – is one of numerous new taxes and fees proposed by Spitzer as part of an effort to close an estimated $4.4 billion deficit in his state budget proposal.
Spitzer has proposed using $100 million of the money generated by the new surcharge to help pay for a proposed $1 billion “Revitalization Fund” that will promote upstate economic development initiatives.
Was this article valuable?
Here are more articles you may enjoy.
WTW to Acquire Newfront in Deal Worth Up to $1.3B 
California Again Delays Wildfire Protection Rules for Homes 
Truckers Who Fail English Tests Are Pulled Off Roads in Crackdown 
Zillow Deleting Home Climate Risk Scores Reveals Limits of Flood, Fire Data 
