Wealthy New Yorkers Ask Gov. Cuomo to Raise Their Taxes
Several of New York State's richest residents sent a joint letter to Gov. Andrew Cuomo (D-N.Y.) asking him to raise their taxes, according to the New York Post.
Asking Cuomo to "invest in the long-term viability of New York," 80 signatories, including liberal billionaire George Soros and Abigail Disney, the great-niece of Walt Disney, said they supported a plan to raise income tax brackets.
All of the New Yorkers who signed the letter are worth more than $650,000, and many are millionaires.
“We need to invest in pathways out of poverty and up the economic ladder for all of our fellow citizens, including strong public education from pre-K to college," they wrote, adding that they also supported comprehensive infrastructure improvement.
The tax plan, if approved, would raise $2 billion in revenue for the Empire State.
The state's Republican-majority Senate opposes the tax plan, forwarded by the Fiscal Policy Institute.
Lawmakers in Albany are working on a state budget with a goal of finalizing it by April 1.