New York budget talks entered their final stage Tuesday as the Democratic supermajorities in the state Senate and Assembly released budget resolutions that would raise taxes on incomes above $5 million and on corporations.
The proposals set up a faceoff against Gov. Kathy Hochul (D), who previously ruled out income tax hikes, as well as on other issues like housing and education ahead of an April 1 budget deadline.
New Yorkers have one of the highest state and local tax burdens in the nation, and the push by lawmakers to raise taxes comes amid increased concerns about the number of ...