Provides that income taxes shall be adjusted to account for a cost of living adjustment

S 9043 adjusts New York State income tax brackets annually to account for inflation through a cost-of-living adjustment (COLA). This ensures that taxpayers' income tax rates and bracket thresholds automatically rise with inflation, preventing "bracket creep" where inflation alone pushes earners into higher tax brackets. The bill specifically modifies tax law sections to require these COLA-based adjustments for all income tax brackets across multiple filing statuses (single, head of household, married filing jointly) for tax years beginning after 2026. It directly affects all New York State income taxpayers by maintaining the real value of tax brackets over time, reducing the risk of unintended tax increases due to rising prices.