THIS WEEK IN A NUTSHELL

Albany, N.Y.--

Republicans close to taking Control of the State Senate

Republicans moved closer to regaining control of New York's Senate after a State Supreme Court judge rejected a hand recount in the State Senate race in Nassau County. Republican Jack Martins was declared the winner over the incumbent Senator Craig Johnson by 451 votes.

In Westchester, Republican Bob Cohen conceded to incumbent Sen. Suzi Oppenheimer. The Republicans will hold a slim 32-30 majority over Democrats, pending any further legal action by Democrats.

State Senate Returns for Special Session

The Senate returned to Albany this week but failed to pass a rescue plan for the bankrupt New York City OTB. However, the Senate was able to approve $600 million in federal money for education jobs.

Cuomo Prepares to Take Office

Governor-elect Cuomo announced some of his top level appointments. Many of them worked under Cuomo in the Attorney General’s office and during his time as the Secretary of the U.S. Department of Housing and Urban Development.

Tax Deal in the Works

President Obama announced an agreement with Congressional Republicans to extend the Bush-era tax cuts to all Americans, including those who make over $250,000 annually, until 2013.

The agreement also includes:

A payroll tax cut for workers in 2011. This will trim the Social Security tax rate by 2% for all workers.

An exemption from the estate tax for inheritances that are under $5 million. Anything above $5 million will be taxed at 35%.

An extension of extended unemployment benefits. Under this extension, out of work Americans will be able to claim up to 99 weeks of unemployment benefits.

This agreement must still be voted upon in the Senate and House of Representatives. Many liberal members of both the House and Senate are upset with this agreement and Bernie Sanders (I-VT) has indicated that he will attempt to filibuster the legislation in the Senate.