NYC Council Pushes Wealth Tax, Hochul Resists
Fort Wayne News Today | 2 Min News | The Daily News Now! · The Daily News Now!
Audio is streamed directly from the publisher (api.fastcast.ai) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
A group of New York City Council members, led by Mayor Zohran Mamdani, are pushing for the Fair Share Act, a two percent surtax on households earning over one million dollars. This move aims to address a significant budget shortfall, with the revenue intended for deficit reduction and corporate tax hikes. Despite warnings of a rich exodus, supporters argue that working-class residents are already leaving, and without state approval, property tax increases may be inevitable. Governor Hochul, up for reelection, has rejected the wealth tax but promises state aid. Some state Democrats still advocate for the proposal amidst economic reports highlighting New Yorks struggles with outmigration and high taxes.
Support the show
Get a discount at https://solipillow.com/discount/dnn.
Advertise on DNN
[email protected]
This is an automated, high-level news summary based on public reporting.
Report issues to [email protected]
View sources & latest updates
https://sources.thednn.ai/27c23415a18a8962