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IPFS News Link • New York

Gov Andrew Cuomo says he WILL consider hiking taxes for New York City's wealthiest residents...

• https://www.dailymail.co, By EMILY CRANE

Governor Andrew Cuomo has now admitted he will consider taxing wealthy New Yorkers if the federal government doesn't provide aid - just weeks after he begged the rich to return to help save the city from economic ruin.  

Facing a huge budget shortfall, Cuomo has so far resisted calls to tax the rich - many who have fled New York City amid the COVID-19 pandemic - over fears they may never return.

He has now acknowledged for the first time since COVID-19 forced the city to shutdown that raising taxes might have to be part of the solution.

Cuomo said, however, that hiking taxes on wealthy New Yorkers would be a last resort if all other aid options fell through. 

New York City is currently facing a $8 billion budget deficit, which is expected to grow in the coming years. 

The city's economy has been devastated by the coronavirus outbreak with tens of thousands of people thrown out of work and businesses forced to shut down. Residential and commercial continue to remain abandoned and the city is continuing to struggle with rising rates of crime and homelessness.    

1 Comments in Response to

Comment by chris gill
Entered on:

He is so stupid that he can't fathom that the "rich" taxpayers will not just sit there and take it anymore. with the city's and state going to hell in a hand basket cutting police budgets, and failure to provide basic security to the young and old. Failure to prosecute rioters and thugs and a total lack of leadership I suspect many more will bail out. God help those that can't afford to leave.



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