New York Governor Kathy Hochul said she supports maintaining the current business income tax rate for an additional three years as she faces a potential recession and lower tax receipts.
The Democratic governor announced the extension of the expiring rate for corporations earning at least $5 million in her $227 billion budget proposal released Wednesday. The move comes as an increasingly progressive arm of the Legislature is urging Hochul to increase the minimum wage to more than $20 and to tax wealthier individuals and corporations more to fund education, health care, and other public services for lower-income ...
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