July 30, 2020
Yesterday Senate Majority Leader Andrea Stewart-Couslins made her clearest statement to date regarding the necessity of developing proposals that (if agreed to) would result in additional revenues for New York State as it continues to look to Washington for critical emergency funds. The Governor continues to advise against a billionaires tax, indicating it will drive high net worth individuals out of state, Unfortunately, the members of the NYS Legislature completed the regularly scheduled legislative session last week but this does not preclude lawmakers going back into session (virtually or otherwise) to address the crisis facing our state.
As the letter we sent you yesterday from Governor Cuomo to members of the NYS delegation in Washington indicated, the absence of sufficient federal aid will concretize the 20-31% withholds impacting our service delivery system, and require cuts across the Medicaid and Education budgets, the two largest areas of spending in the NYS budget.
How do you feel about our actively supporting revenue proposals including but not limited to the Billionaires Tax? Would you like to see the NYS Council become actively involved in efforts with like-minded organizations across the state who are pushing an agenda that seeks to identify revenue raisers that can subsidize New York’s enormous (and growing) budget deficit now estimated at $14 billion in the current budget year and $16 billion next year.
Please let us know your thoughts?
Statement from NYS Senate Majority Leader Stewart-Cousins:
“While we collectively work to get needed federal aid from Washington, there is no question that substantial additional revenue action from the state will be necessary. We are all hurting and this crisis calls for multimillionaires and billionaires to help our state shoulder this extraordinary burden. While there is no single action that will solve all our problems, we shouldn’t be looking to the already overburdened working and middle class to solve the crisis. The Senate has created a revenue working group that has been diligently developing proposals over the last few months that will help guide our approach.”