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New York City business leaders warn new taxes could cripple city's recovery

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A group of New York City business leaders has urged officials to refrain from raising taxes as it could jeopardize the state's recovery from the pandemic and pressure companies to relocate their operations, triggering major economic losses.

FILE PHOTO: People take a selfie during Valentine's Day in Times Square in Manhattan, New York City, New York, U.S. February 14, 2021. REUTERS/Jeenah Moon

Significant corporate and individual tax increases will make it far more difficult to restart New York City’s economic engine, said a letter by the Partnership for New York, which includes 250 of the city’s top business leaders. New York’s fiscal year 2022 budget projects a $37 billion revenue loss over four years due to the pandemic. Budget plans have called for raising $1.54 billion and $1.4 billion in the next two fiscal years on taxable income greater than $5 million.

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But it was okay to receive the tax cut 2018 huh? How convenient!

Alarmism at it's best.

Tough shit

TaxTheRich

Of course they do.

How do they define recovery? Do we WANT the 'recovered' New York to look the same as it was before?

Gee, I'd never imagine that wealthy business leaders would be against paying taxes.

tax BIG TECH higher !!!

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