N.Y. lawmakers considering higher taxes on wealthy to address pandemic budget deficit

N.Y. lawmakers considering higher taxes on wealthy to address pandemic budget deficit

New York state Gov. Andrew Cuomo arrives for a news conference on September 08, 2020 in New York City. (Photo by Spencer Platt/Getty Images)

OAN Newsroom
UPDATED 7:45 PT – Thursday, December 10, 2020

New York State Democrat lawmakers said they’re looking at new and higher taxes to address a ‘massive’ budget deficit caused by the pandemic.

According to Thursday’s reports, lawmakers discussed approving tax hikes, cutting spending, or implementing both of these options in their meeting on Wednesday.

This also includes considering higher taxes on the state’s wealthy residents as well as the legalization of marijuana and mobile betting.

In a news briefing on Wednesday, New York Gov. Andrew Cuomo (D-N.Y.) said that the state will likely see tax increases regardless of what the government does in terms of aid.

“Unless the federal government is truly responsible and accountable, and really gives New York the funding it deserves, you’ll see tax increases,” Cuomo said. “You probably will see tax increases in any event, pardon my skepticism about Washington.”

This came amid reports of New York city’s chapter of the ‘Democrat Socialists of America,’ which called on voters to back a ‘Tax the Rich’ campaign to the tune of $50 billion in tax hikes.

People participate in a “March on Billionaires” event on July 17, 2020 in New York City. (Photo by Spencer Platt/Getty Images)

MORE NEWS: Dozens Of NYC Residents Displaced By Overnight Fire In Queens

The post N.Y. lawmakers considering higher taxes on wealthy to address pandemic budget deficit first appeared on One America News Network.



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