ABC News 10
“I think modest rate increases on the richest individuals and corporations are things they can absorb,” said Michael Kink, Executive Director of the Strong Economy For All Coalition. Kink said New York has 21% more millionaires since taxes were raised on the wealthiest in 2021. The Siena poll shows around 75% of New Yorkers are in favor of the increase. The one house budget proposals would increase income taxes for those making over $5 million from 10.3% to 10.8%. And for those earning over $25 million, a shift from 10.9% to 11.4%.
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