Hundreds Rallied with Invest in Our New York Campaign to Urge State Action to Protect Healthcare, Food, and Special Education Services at Risk from Federal Cuts
Albany, NY – Today 300 New Yorkers, lawmakers, and advocacy organizations joined the Invest in Our New York campaign at the New York State Capitol to demand that Gov. Kathy Hochul and legislative leaders protect their constituents from the worst of the impending federal funding cuts by passing a state budget that ensures millionaires, billionaires, and large corporations pay their fair share of taxes. Rally speakers – including Assemblymembers Shresta, Meeks, Raga, Levenberg, Epstein, Simone, Valdez, Gallagher, and Souffrant-Forrest – argued that raising taxes on the ultra-wealth – a policy that is widely popular across the state – will ensure that New York can fund essential programs and services that millions of New Yorkers rely on every day.
New York stands to lose up to $93 billion in federal funding due to cuts proposed by the Trump administration and a GOP majority in Congress. The cuts would jeopardize healthcare, access to nutritious food, special education services, and other critical programs for New Yorkers. With the GOP House Majority poised to pass a resolution in support of these cuts later this week,, advocates called on the governor and the New York State legislative leadership to take action and prevent the further erosion of vital services.
"Governor Hochul must listen to the people who elected her and ensure that New York’s working-class communities are not left to suffer because of Donald Trump’s and the Republicans’ federal funding cuts,” said Carolyn Martinez-Class, Interim Co-Executive Director of Citizen Action and leader of the Invest in Our New York Campaign. “The ultra-wealthy and corporations have the means to pay their fair share—it's time they contribute to sustaining essential services that serve New Yorkers."
Gov. Hochul recently suggested that New Yorkers need suck it up in response to these expected cuts, and claimed that "elections have consequences." In response, advocates are demanding she protect the essential programs that millions of New Yorkers rely on every day.
To prevent thousands of New Yorkers from losing access to critical benefits like Medicaid and SNAP, the Invest in Our New York campaign is calling for the following tax reforms to be included in the FY26 adopted state budget, which will provide billions in stable, annual public funds:
Make our income taxes more progressive (S.1622-Jackson/A.1281-Meeks) and raise $21 billion a year
Raise corporate taxes on the most profitable corporations in NY (S.953-Hoylman/ A.1971-Kelles, Shrestha) and raise $7 billion a year
Implement a capital gains tax (S.1439-Rivera/A.676-Kim) and raise $12 billion a year
Tax billionaires' wealth (S.165-Ramos/A.TBD-Kelles) and raise $20 billion in the first year, and $1.5 billion each year after
Creating an heirs tax (S.914-Brisport/A.2049-Solages) and raise $4 billion a year
“The average income of the top 1% in New York is $2.6 million, and of the bottom 90% is $49,000. And even as the number of new millionaires rises to 17,500, the average New Yorker, despite doing what they can to make a living, is not seeing the results of a growing economy. This is austerity in a nutshell. At a time when New Yorkers should be reaping the benefit of the economy they help to run, schools are seeing budget cuts, direct service providers are sleeping in their cars, and healthcare workers are experiencing severe burnout. We need to tax the ultra rich, including large corporate profits, to bring wealth, equity and well-being to New York,” said Assemblymember Sarahana Shrestha, co-lead sponsor of the IONY Corporate Tax Bill, said.
Senator Brad Hoylman-Sigal, lead Senate sponsor of the IONY Corporate Tax Bill, said: “It’s time that the wealthiest New Yorkers pay their fair share. By including a modest tax increase on the wealthiest New Yorkers, we can better fund critical services to enhance public education, affordable housing, healthcare coverage, and clean energy projects in our state, all without raising taxes on working or middle-class New Yorkers. As the federal government prepares to cut billions in state funding the need to increase what we are able to allocate at the state level is now greater than ever.”
“With cuts to essential programs and services looming on the Federal level and Trump and his Congressional allies intent on pushing through tax cuts for the super-rich, we need to take action at the State level to ensure that we have the revenue needed to invest in our human and infrastructure needs. Raising taxes on wealthy individuals and companies in New York is the right move now more than ever,” said Assemblymember Robert Carroll
Assemblymember Emily Gallagher said, "This is a decisive moment for New York's leaders. Across the state, we are hearing every day from people who cannot afford their basic necessities, including housing, heat, healthcare, and food. At the same time, we know massive cuts are coming from the federal government, which will put vulnerable New Yorkers at even greater risk. It isn't enough to maintain the status quo — we must do more to provide the essential programs and services that allow New Yorkers to live and thrive. We can afford these investments by raising taxes on the ultra-wealthy to ensure everyone is paying their fair share and no one gets left behind while the rich just get richer and richer.
“The Trump administration is bulldozing our healthcare system and is essentially issuing death sentences to millions of Americans as he cuts off critical healthcare. This administration is actively suppressing education and free speech, and putting Americans at risk globally. Democrats are at a pivotal moment and have an opportunity to be true leaders and fight these attacks by investing in New York. We’ve waited too long to make bold moves. Now is the time. Corporations and billionaires have benefited year over year from unfair tax breaks and cowardly politicians unwilling to enforce critical environmental laws. But the working class struggles to obtain basic services, breathe clean air, feed their families and make rent. It’s time to make the rich pay! We need to pass the Progressive Income Tax Bill, The Corporate Tax Bill, Capital Gains Tax, The Billionaires Tax and the Heirs Tax, now! These taxes would fund critical public services from healthcare and education to clean air and affordable housing. Everyday New Yorkers are struggling unnecessarily. New York can’t wait for change any longer. It’s time to tax the rich,” said Assembly Member Jessica González-Rojas.
Senator Michelle Hinchey said, “Our communities are on the verge of devastating federal cuts to our most vital public services, leaving us to bear the brunt of federal disinvestment that favors billionaires over working families. New York must take a different path—one that raises revenue from the ultra-wealthy to fund the critical public services—from education to healthcare—that support and uplift us all.”
Assemblymember Levenberg said, “If Republicans in Congress get their way, the ultra-wealthy will get massive tax breaks while the rest of us face higher federal taxes and reduced federal services. New York must respond by demanding more from the ultra-wealthy individuals and corporations who have benefited so much from living and doing business here. Our state is a world leader in media, culture, and finance, with one of the largest economies in the world. We can protect the workers and residents who power this state by raising our revenue from the ultra-rich and using it to reduce the burdens on working and middle-class families.
“New Yorkers deserve a proactive state government that will not passively watch as their access to food, housing, and healthcare is stripped away. We can ensure funding for vital programs like SNAP and Medicaid by making sure corporations and the wealthiest New Yorkers pay what they owe in taxes. It is time New York State stepped up and showed their commitment to the working class,” said Assemblymember Marcela Mitaynes.
"The future of Medicaid, food assistance and access to public education in our country is all on the line as the Trump administration prepares a bare bones spending plan," said Assemblymember Linda B. Rosenthal "The Trump administration has put $2 trillion in spending cuts on the table by slashing funding to the most fundamental services that working-class families rely on. New York State cannot stand idly by as safety net programs are decimated. We know that Donald Trump will not ask multimillionaires and billionaires to pay their fair share, so it is up to us. Implementing a progressive tax system in New York State that asks the wealthiest among us to chip in will help to stave off some of the harm coming our way and ensure that families are not cut off from essential programs and services."
Senator Julia Salazar said, "Massive federal budget cuts would decimate New Yorkers' essential services, while shoveling even more of our money into the pockets of billionaires, centimillionaires, and mega-corporations. The economy already is unconscionably rigged against working people--and that must change. Our effort centers on requiring the uber-rich to pay their fair share so that we can invest in the common good, from health care, to education, to nutrition. That's what "Invest in Our New York" means. It's common sense, and it's urgent."
“Common-sense taxation reforms will protect everyday New Yorkers,” said Assembly Member Rebecca A. Seawright. “These measures are crucial to an equitable and economically sustainable New York.”
"At a time when the national income gap is near an all-time high, Congressional Republicans are now poised to gut funding for essential services. This would be devastating for the people of New York State. Our businesses would also suffer, as they depend upon well-maintained roads and mass transit, modern infrastructure, and a healthy and educated workforce to succeed. Losses in economic activity would deteriorate from there as more workers call in sick, or get flat tires on underfunded roads, or no longer receive recovery assistance after a hurricane or flood. Facing an unprecedented withdrawal of support from Washington, New York will need to use every tool at its disposal — and that includes a fair increase in the tax on the ultra-wealthy. The well-being of our residents and business will depend on it,” said Assemblymember MaryJane Shimsky.
"New York is blessed with extraordinary wealth, and with the incoming disastrous federal budget, we will face a widening divide in how that wealth is shared," said Assemblymember Tony Simone. "It is time we invest that great wealth into New York and end the decades of underfunding education, housing, health care, infrastructure, child care and all the human needs and public services New Yorkers depend on to thrive. I join my colleagues in calling New York to lead the nation in setting an example on how to combat massive federal cuts."
“Trump is looting programs working families depend on to fund tax cuts for his billionaire pals. I’m calling on Gov. Hochul to get serious about pushing back on Trump’s disastrous policies by raising taxes on the rich to protect our state's essential programs and services. Anything less is a sign-off on Trump’s budget and a betrayal of working-class New Yorkers,” said Assemblymember Claire Valdez
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About Invest in Our New YorkInvest in Our New York Campaign calls for growing our state’s existing public services and programs and investing in new public goods, including by making deep and lasting investments in housing, climate crisis mitigation and strengthening the social safety net. For more information, please visit www.investinourny.org
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