Legislators proposed raising the tax rate for business and residents with incomes over more than $5 million. That’s scaled down from the more-dramatic hike Mamdani has proposed: 2% increase on city dwellers making more than $1 million a year.
A budget battle is unfolding in Albany as state lawmakers in their budget proposals unveiled a push for tax hikes on both wealthy individuals and corporations to supply New York City with more money, aligning with Mayor Mamdani but posing a sharp cha… [2960 chars]
Source: New York Daily News | Published: 2026-03-10T15:09:31Z
Credit: New York Daily News
