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Will the Last High Earner to Leave New York Please Turn Out the Lights

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Will the Last High Earner to Leave New York Please Turn Out the Lights

New York Post April 5, 2021
Urban PolicyTax & Budget

Back on Jan. 19, Governor Cuomo presented an Executive Budget calling for a temporary $1.5 billion personal income tax increase targeted at New York’s highest earners.

The left-leaning Democratic supermajorities in the state Assembly and Senate countered with proposals for an eye-popping array of $7 billion in tax hikes, mostly targeted at high earners.

The only question left was how far the once-domineering, now politically damaged governor would go to make a deal.

We now know the answer: pretty far.

Continue reading the entire piece here at the New York Post

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E.J. McMahon is a senior fellow at the Empire Center for Public Policy and a Manhattan Institute ­adjunct fellow. Follow him on Twitter here.

Photo by Brendan McDermid-Pool/Getty Images

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