40+ New York Organizations Demand Congress Reject More Tax Breaks for the Wealthy

Albany, NY— As federal GOP lawmakers consider defunding New Yorkers’ healthcare, early childhood programs, SNAP benefits, and other services to pay for their billionaire tax cuts, 40+ state-based organizations sent a letter to New York’s congressional delegation, calling on them to stand with their constituents and oppose tax cuts for the wealthiest individuals and corporations. 

Read the letter to the New York Congressional Delegation here.

“New York voters didn’t ask for more tax giveaways to billionaires and mega-corporations at the ballot box this November – they demanded lawmakers in New York and Washington D.C. make groceries, childcare, healthcare, and overall living more affordable,” said Maria Duarte, Campaign Organizer for Invest in Our New York. “Congress must focus on helping working and middle-class and low-income New Yorkers make ends meet, not on costly tax breaks for the wealthiest Americans.”

Trump’s 2017 Tax Cuts and Jobs Act (TCJA) primarily benefited the ultra-rich and highly profitable corporations, leaving working-class families behind. In New York, billionaires increased their wealth by 74% –– $331.8 billion ––in just the seven years since the TCJA was enacted. Nationally, the top 1% of earners saw after-tax income gains nearly three times larger than those in the bottom 60%. Eighty percent of the corporate tax cut benefits went to the wealthiest 10%, while most workers’ wages remained flat. 

Funding more tax cuts for the super-rich will guarantee cuts to vital programs that New Yorkers rely on. Almost 7 million New Yorkers, including 44% of New York’s children, depend on Medicaid for their healthcare. Critical public infrastructure funding for New York City’s transit system – the nation’s largest public transportation system – is also at risk, potentially putting dozens of accessibility and climate adaptation projects on hold.

Polling shows that voters across the political spectrum oppose tax breaks for the wealthy. A recent survey found that 79% of New York voters support raising taxes on the wealthiest households, and 80% believe corporations pay too little taxes.

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