New York comptroller Brad Lander proposes tax hikes for the rich

Mayor Eric Adams on Friday denied that raising taxes to help the Big Apple meet the cost of its mounting spending, including the refugee crisis, is an option — despite City Comptroller Brad Lander’s liberal “tax the rich” mantra, the “new taxes” demand revenue, i.e. tax increases, to be introduced.

With a raised eyebrow report published This week, the Comptrollers’ Office put forward a series of proposals to bring the city $1 billion a year in revenue — including raising income taxes for the top 1% of income earners and introducing a pied-à-terre, or pied-à-terre .Second residence. surcharge

It’s also proposing to scrap Madison Square Garden’s nice no-tax deal, which exempts the venue from taxes if it’s used to host pro hockey and basketball games, to help the Big Apple deal with financial challenges to help those “remaining on the horizon”.

“When we say, ‘Let’s just raise taxes for New Yorkers,’ if that’s the answer to our problem, I just disagree,” Hizzoner said Friday when asked about the auditor’s revenue increase report.

However, the auditor argues in the report that new revenue is needed to fill future budget gaps.

“A serious, long-term austerity plan to close off-year budget gaps needs to be part of that plan, but if the city is to expand its services to address affordability concerns and make new investments in shared economic prosperity to address the post office. “New revenue will be required in pandemic conditions,” the report said.

Adams warned earlier this week that more agency budget cuts could be on the table before his $106 billion budget is voted through June 30, but refrained from naming specific departments.

The Comptroller’s report concedes that any proposed tax increases proposed long after the fiscal season “would require legal changes in Albany” — a move Gov. Kathy Hochul has also previously said she is unwilling to support .

Skeptical city council members quickly dismissed the report’s proposals while questioning Lander’s motives for trying to raise taxes.

“The mayor has made reducing the fat a priority, we shouldn’t butter our bacon instead,” Councilman Joe Borelli (R-Staten Island) said of the proposed increases.

Councilman Bob Holden (D-Queens) also chimed in, stressing, “There isn’t a tax increase in the world that the Comptroller wouldn’t support.”

“It’s no-contact progressives like Lander that are causing taxpayers to flee the city and head for greener pastures, and the fact that he continues to push for more taxes on an already stretched budget comes as no surprise,” Holden added .

Meanwhile, Will Barclay (R-Pulaski), leader of the minority parliamentary group in the state legislature, accused the Comptroller of wanting to make New York’s already “oppressive” tax climate worse – pointing out that attempts to raise taxes in the state budget have already failed.

“In democratic parlance, ‘increase revenue’ is simply a demand for more taxes. And whether it’s a new tax for commuters, MTA users, or high earners, they’re not helping to improve the affordability crisis here,” he said.

“Liberals’ efforts to tax the rich failed to reach the final state budget, and that’s a good thing. Imposing higher taxes will not reverse the trends that are causing New York to lose its share of high earners and financial institutions to relocate to lower-cost states.”

Asked about Lander’s idea of ​​raising taxes to meet spending, particularly the refugee crisis, Adams warned on Friday that it wasn’t a viable solution.

“This is not a sustainable way to address this problem, so we just can’t say, ‘We’re going to tax ourselves out of this situation by taxing New Yorkers with additional taxes,'” he said of the influx of migrants, who flock there the great apple.

“We need the help of the national government, as I’ve been saying for a while.”

The Adams administration requested more than $650 million in aid from the Federal Emergency Management Agency to help meet the crushing influx of refugees — but has so far received just $38.5 million.

This comes after Adams’ top budget official warned on Wednesday that the ongoing tide of migrants pouring into the Big Apple could mean the city “updated the $4.3 billion cost already estimated for the crisis.” ” must.

Lander also predicted that the Big Apple will spend about $1 billion more than previously forecast to handle the surge in asylum seekers.

He forecast earlier this week that costs will reach $4 billion by June 2024, beating Adams’ current estimate of $2.9 billion over the same period.