ALBANY — Union officials are joining the chorus of voices calling on New York to increases taxes on the wealthy to address the state’s dire fiscal situation.
Nearly a dozen labor unions and the New York State AFL-CIO want to see lawmakers return to the Capitol before the end of the year to pass higher income taxes on the state’s richest residents, a move that could help raise roughly $7 to $9 billion in revenue and offset the economic strain of the coronavirus crisis.
“It is encouraging that legislators are considering returning to session this month to ask the wealthiest New Yorkers to do their fair share to address the deep state budget crisis brought on by the pandemic,” union leaders said in a statement. “But now is definitely the time for bold action. Without billions of dollars in additional revenues, there will be disastrous cuts in schools, health care, and public services–and not nearly enough funds to bail out those devastated by the pandemic–renters, small landlords, small business owners, restaurant owners.”
The Communications Workers of America, New York State Nurses Association, New York State United Teachers Union, 1199SEIU United Healthcare Workers, along with six other unions signed off on the statement.
The call comes a day after Assembly Speaker Carl Heastie (D-Bronx) said that negotiations are underway with the Senate and Gov. Cuomo on potential tax increases on the ultra-rich, and that lawmakers could still return to Albany before the end of the year to act on much-needed revenue-generating measures.
But Cuomo appeared to throw cold water on the idea of a special year-end session, saying he wants to wait on Congress or President-elect Joe Biden to act in the coming weeks.
“Doing it without the Washington funding is going to be really, really difficult, I don’t believe Washington gives us nothing,” the governor said.
The governor remains hopeful even though Congress has yet to come to an agreement on a new federal stimulus package. Lawmakers in Washington are considering a $908 billion spending bill, but it’s unclear if Republicans in the Senate will sign off on state and local aid that Dems in the House are pushing for.
Advocates have repeatedly called on state officials to take the matter into their own hands as Cuomo’s budget office projects massive revenue shortfalls over the next several years that could reach $60 billion. Several bills have been proposed over the past year that would target stock transfers, second homes and other items. An income tax increase on New York’s millionaires and billionaires that would add higher tax brackets for those making over $5 million, $10 million and $100 million is also under consideration.
Heastie said Monday that legislators will have to act soon as the state could face legal challenges if lawmakers wait and approve a tax increase following budget negotiations in March.
The state constitution requires ample notice to be given to taxpayers when an increase is implemented, he argued.
“It’s our belief that you can’t pass a tax increase in March and retroact it back to January,” Heastie said. “The constitution is clear when it says you have to give people notice.”
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Sad to see my old home state slipping beneath the waves. You can’t keep bleeding the “ultra-rich” dry to make up for runaway state spending, unchecked fraud/waste/abuse, and never ending government handouts to layabouts. At some point, it becomes like blood from a rock! Get your house in order, New York, before it burns to the ground!
Course the unions are doing this.. I SAY FINE. START WITH EVERY UNION HEAD… AND the governor!
Seize 90% of their assets, and see how THEY LIKE IT!
New York State AFL-CIO want to see lawmakers return to the Capitol before the end of the year to pass higher income taxes on the state’s richest residents
As an ex-NY’er I have no problem with them raising taxes on Leftists who consistantly vote for higher taxes.
No one deserves it more than they do.
And what if those “rich new yorkers” move out, and go to a more intelligent state. Then, what would happen??? In fact I hope they do, and will move out of new york. The state needs them, more then they need that confused state, led by a totally inompetent confused dimocrat.
THING IS< every time these liberals "FLEE" from their own states, AL THEY DO IS BRING THEIR INSANE Liberal ideas with them, AND CORRUPT WHAT ever state they flee to…
SO i'd rather they HAVE TO STAY THERE< AND SUFFER from their insane ideas…
‘Do their fair share’, meaning paying over 70% of ALL New Yorkers taxes isn’t enough or FAIR. I hate to even guess what they think is ‘fair’. IMHO, anything cumulative close to or over 50% is slavery. I for one would move, quit earning or, just quit and spend the money.
The few liberal folks i still have, i’ve asked “SO WHAT exactly do you consider a fair share”, for rich to pay.. TO THEM, they think even 75% is not enough.
i’ll say it again, going to get more interesting.
It will all trickle down to the little guy.