Senator Giannares says repealing bullion exemption could recoup an estimated $600 million Senator Giannares introduced S78 75 to end a long-standing sales‑tax exemption for certain precious-metal bullion above a $1,000 threshold, citing a Department of Taxation and Finance estimate that repeal could recoup more than $600 million in foregone sales tax revenue; the committee voted to report the bill to Finance.

Senator Giannares is pushing to repeal a decades-old tax exemption on precious metals, potentially recouping over $600 million in lost revenue for New York.

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Sponsor Says Narrowing Bank Tax Preference Will Restore Wildfire- preparedness Funding House Bill 2089 narrows a B&O tax preference for first-mortgage interest so that larger, multi-state financial institutions no longer receive the deduction; the sponsor said the change will restore revenue to a wildfire response account cut in recent budgets and DOR estimates increased revenue and implementation costs.

House Bill 2089 could redirect millions in tax revenue to bolster Washington's wildfire preparedness, but not without controversy from the banking sector.

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