NY Lawmakers Push Higher Income Taxes on Wealthy in Budget Talks

New York lawmakers are pushing Gov. Kathy Hochul to increase income taxes on high-earners in the state budget due April 1.

People making more than $5 million per year would face increases under budget bills unveiled Monday by the Democratic majorities in the state Senate and Assembly. Rates would increase from 10.90% to 12% for people making more than $100 million per year under the Assembly plan, which would also reduce rates for the lowest brackets. The Senate is pushing for less dramatic changes compared to the lower chamber.

Taxes are a perennial dividing line between Hochul and ...