NY budget will likely hike taxes on state’s top earners to highest in the country
New York Post
Fiscal watchdogs, Democrats representing moderate areas in suburban and upstate districts and even US Senate Majority Leader Chuck Schumer (D-NY) argued that taxes didn’t need to be raised because of the billions in federal stimulus money New York received over the last year.
The nonpartisan Citizens Budget Commission was among those arguing that New York doesn’t need to hike taxes to plug holes.
Fiscal watchdogs, Democrats representing moderate areas in suburban and upstate districts and even US Senate Majority Leader Chuck Schumer argued that taxes didn’t need to be raised because of the billions in federal stimulus money New York received over the last year.
“The state appears poised to enact a massive tax increase despite having $22 billion more resources available over the next two years than was anticipated when the governor proposed the budget in January,” CBC president Andrew Rein told The Post.
“Those funds were sufficient in themselves to reverse cuts, help those not supported by the American Rescue Plan, support educational needs from the pandemic and provide a glide path to fiscal stability.”