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

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.

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.President Joe Biden's American Rescue Plan, which provides US$1.

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