N.Y. Wealth Tax and Budget Deadline Converge With Cuomo Scandals (1)

March 5, 2021, 11:07 AM; Updated: March 5, 2021, 1:01 PM

Emboldened New York lawmakers could take on a politically weakened Governor Andrew Cuomo to push their own budget agenda, including a more progressive tax policy targeting the ultra-wealthy.

With just four weeks until the state budget deadline, many Democratic lawmakers have been eyeing a tax package that would go further than the hike on high-income earners that Cuomo proposed in his worst-case-scenario executive budget. The Legislature also could pressure Cuomo to send additional recreational marijuana tax revenues to communities hardest-hit by anti-drug laws, said Assemblyman Ron Kim, a Queens Democrat.

“I think the Legislature is going to seize the moment...

To read the full article log in. To learn more about a subscription click here.