WBFO Albany Correspondent Karen Dewitt reports
As the months have stretched on with no new federal bailout package that includes help for states coping with pandemic-related costs, Cuomo has begun to talk about ways to close what he said is a $15 billion budget gap. He said new taxes will be part of that plan.
“I believe we are going to have to raise taxes at the end of the day,” Cuomo said on Dec. 9.
The governor did not specify what kind of taxes he has in mind, but his words heartened many progressive groups and state lawmakers who have long advocated for higher taxes for the state’s richest residents. They say many of the state’s 118 billionaires have seen their wealth increase during the pandemic.
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Governor Andrew Cuomo is floating the possibility that New York may have to raise taxes to close a pandemic related budget gap. The remarks are encouraging long time advocates of imposing higher taxes on the wealthy.
As the months have stretched on with no new federal bailout package that includes help for states coping with COVID-19 related costs, Cuomo has begun to talk about ways to close what he says is a $15 billion budget gap. He says new taxes will be part of that plan.
“I believe we are going to have to raise taxes at the end of the day,” the Democrat said on December 9.
Hans Pennink / AP
Governor Andrew Cuomo is floating the possibility that New York may have to raise taxes to close a pandemic related budget gap. The remarks are encouraging long time advocates of imposing higher taxes on the wealthy.
As the months have stretched on with no new federal bailout package that includes help for states coping with COVID-19 related costs, Cuomo has begun to talk about ways to close what he said is a $15 billion dollar budget gap. He said new taxes will be part of that plan.
“I believe we are going to have to raise taxes, at the end of the day,” Cuomo said on December 9.
Cuomo s talk of new taxes raises hopes among tax-the-rich proponents wrvo.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wrvo.org Daily Mail and Mail on Sunday newspapers.
According to Gov. Cuomo, New York, without federal aid, faces a $61 billion multi-year budget deficit as a result of the pandemic. File photo: Office of Gov. Cuomo
Dec 16, 2020 Governor Andrew Cuomo is floating the possibility that New York may have to raise taxes to close a pandemic related budget gap. The remarks are encouraging long time advocates of imposing higher taxes on the wealthy.
As the months have stretched on with no new federal bailout package that includes help for states coping with COVID-19 related costs, Cuomo has begun to talk about ways to close what he says is a $15 billion dollar budget gap. He says new taxes will be part of that plan.