At Albany Rally, Pressure Grows on Legislature to Adopt a Moral Budget that Provides for Working Families
Albany, NY —Today, the Invest in Our New York (IONY) campaign and the Labor Religion Coalition hosted a press conference and advocacy day in Albany, bringing together religious leaders, congregants, advocates, and elected officials. The attendees called for a moral budget that ensures New York's wealthiest households and most profitable corporations pay what they owe in taxes and make meaningful, lasting investments in working-class communities.
New York is the most unequal state in the nation, with over 8 million New Yorkers living in poverty or low-income conditions. At the same time, more than 100 billionaires call New York home, and the number of millionaires is increasing each year. That disparity is morally unacceptable.
Governor Hochul's proposed budget poses a grave threat to the future of New York's communities, slashing funding for critical programs such as education, climate infrastructure, and Medicaid, and failing to address the pressing unaffordability crises in New York State. This pattern of prioritizing austerity over investments perpetuates the cycle of poverty and exacerbates existing inequalities.
In response to these alarming trends, the IONY campaign and the Labor Religion Coalition are calling on the New York State Senate and Assembly leadership to reject the Governor’s budget proposal and instead prioritize investments in the resources essential for the well-being of communities across the state. They advocate for policies that demand the wealthiest individuals and corporations to contribute their fair share to support these vital initiatives.
"We cannot continue to ignore the stark reality of economic inequality in New York State," said Rev. West McNeill, Executive Director of the Labor-Religion Coalition. "It is morally indefensible that in a state with such abundance, so many of our fellow New Yorkers struggle to make ends meet. Governor Hochul's proposed budget further exacerbates this injustice by prioritizing fiscal cuts over investment in critical programs. We urge our legislators to stand with us in advocating for economic justice and demanding that the wealthiest individuals and corporations pay their fair share."
More than a dozen legislators joined the IONY campaign, the Labor Religion Coalition, and several advocacy organizations in calling for a more just and equitable tax code. Leaders representing congregations in Manhattan, Brooklyn, Queens, Rochester, Schenectady, Scotia, and Albany also attended. After the rally, advocates delivered a petition with over 1,000 signatures to Governor Hochul, demanding she reverse cuts to essential services, prioritize the needs of poor and low-income New Yorkers, and unrig New York’s regressive tax system so the super-wealthy pay their fair share.
“As a faith leader, I firmly believe that our moral duty extends beyond the confines of our congregations and into the heart of our communities. The Invest in Our New York campaign stands as a beacon of hope, advocating for a just and equitable future for all New Yorkers. Just as we are called to care for the least among us, it is imperative that we address the stark inequalities plaguing our society,” said Pastor Brian Ellis-Gibbs, Pastor of Queens Baptist Church, with Churches United for Fair Housing (CUFFH). By championing fair taxation and prioritizing communal well-being over corporate interests, we can pave the way for a brighter tomorrow. Let us heed the call to compassion and solidarity, ensuring that every individual has the opportunity to thrive and flourish in the great state of New York."
"In the Christian season of Lent, we are called to fast from injustice and turn away from inequality. With poverty one of the leading causes of death in our state and nation, we are giving notice to our elected officials to lift the load of poverty and invest in life-saving, rather than death-dealing, programs like housing, healthcare, education and more," said Rev. Dr. Liz Theoharis, Exec. Director Kairos Center for Religions, Rights and Social Justice, and National Co-Chair, Poor People's Campaign: A National Call for Moral Revival.
"New York's skyline reflects the towering heights of our economic prowess, yet beneath the glittering surface lies a tale of stark inequality. We cannot truly prosper while our fellow New Yorkers struggle to make ends meet. It's time to shift our focus from corporate interests to communal well-being,” said Senator Robert Jackson, lead Senate sponsor of the Invest in Our New York Personal Income Tax bill. “The Invest in Our New York campaign charts a course towards fiscal justice, advocating fair taxation to fund vital services. My Progressive Tax Bill is a step towards that goal, ensuring the ultra-wealthy contribute their fair share. Let's illuminate the path to a brighter, more equitable future for every New Yorker."
“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,” said Assemblymember Sarahana Shrestha, co-lead Assembly sponsor of the Invest in Our New York Corporate Tax bill. 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.”
"New York has the most income inequality in the country and the highest concentration of extreme wealth. Just 0.4% of the state’s population have amassed a combined $6.7 trillion in wealth. Nearly half of that is untaxed investment income,” said Assemblymember Ron Kim. “My bill would tax the capital gains of these investment assets to help fund vital public resources.Recently, Washington state and Minnesota passed surtaxes on investment gains, just for their richest residents. If New York does the same, we can raise billions for housing, education, healthcare and human needs.”
“Working-class communities across New York State have been told that there is not enough money in the budget to invest in and create a social safety that protects and serves every New Yorker. This is a lie. The money exists, but until this legislature is willing to put the needs of these communities before those of the ultra-wealthy, New York State will continue to fail its fiscal responsibility. I stand with Invest in Our New York and my state colleagues because it is time to implement legislation enabling us to make deep, long-term investments in state programs and services. It is time we continue to #TaxTheRich in order to fund the essential services all our communities deserve.” said Assembly Member Marcela Mitaynes.
Assemblymember Simone said, "New York is the most unequal state in the nation. My district is a perfect example of this; Billionaire's Row sits on one side of the district, with some of the most expensive real estate per square foot in the country, and yet everyday New Yorkers in the same district just a few blocks away are struggling to make ends meet. We cannot let this inequality stand any longer, and we must take action to pass a budget this year that prioritizes the working class over the ultra-wealthy in our state."
“I was happy to join the Invest in Our New York Campaign to call for a budget that increases revenue from the New Yorkers and corporations who can best afford it,” said Assembly Member Harvey Epstein. “Recent reports show the majority of New Yorkers are in favor of increased taxes on high-income earners and large corporations to improve funding for public programs. It’s time to fully fund education, invest in climate justice, and ensure affordable housing for all” said Assembly Member Harvey Epstein.
“New Yorkers are experiencing a dire economic situation where salaries aren’t matching the cost of living, especially for our service and care workers. More and more families are leaving our state or facing eviction due to crippling rent prices and a lack of affordable housing. Thousands of New Yorkers don’t have access to healthcare and so many are dying because of our government’s neglect. And many of our children throughout the state are going to school hungry, creating an unnecessary barrier to learning. It’s time for us to pass revenue-raising legislation to enact a fair budget that prioritizes our most vulnerable communities and secures the futures of all New Yorkers,” said Assembly Member Jessica González-Rojas.
“My constituents need a state budget that funds investments in education, environmental protection, infrastructure improvements, child care, health care, elder care, and so, so much more. We must pass a budget that asks for more from the wealthiest New Yorkers and corporations, who have benefited so much from our state’s advantages. We must do this so that we can do more to make New York a place where everyone, especially the working families who make New York’s economy one of the largest in the world, can stay and thrive,” said Assembly Member Dana Levenberg.
"New York State must deliver a budget that ensures the well-being of everyday New Yorkers. Revenue is needed to breathe real life into our priorities, and we can generate revenue by ensuring that the ultra-rich pay their fair share. The Invest in Our New York policy package ensures that we have the funds for critical services for working families, like health, education, and human services. I stand in solidarity with faith leaders, advocates, and colleagues supporting this effort," said Assemblymember Jo Anne Simon.
"As budget negotiations heat up, we must stand strong to make billionaires and wealthy corporations pay their fair share so we can invest in our schools, build affordable housing, fully fund our hospitals, protect our environment, and uplift New York families," said Senator Gustavo Rivera, lead Senate sponsor of the Invest in Our New York Capital Gains Tax bill. "We can address rampant wealth inequality with our package of revenue raising legislation that fairly taxes the wealthiest New Yorkers, including my Capitals Gains tax bill. I'm proud to stand with religious leaders and our growing coalition to make sure we demonstrate Albany's commitment to an affordable state for working class New Yorkers."
“New Yorkers, especially our middle-income and working-class families, are looking to their leaders for real investments in housing, childcare, education, healthcare, and the workforce in each of these areas to make living in New York more affordable. To generate the revenue and make these necessary investments, we need to bring parity to our tax structure ensuring that millionaires and billionaires pay the same tax rate on income and wealth as the rest of us,” said Assemblymember Anna Kelles, co-lead Assembly sponsor of the Invest in Our New York Corporate Tax bill and lead Assembly sponsor of the Invest in Our New York Billionaires Tax bill. A recent 2024 poll by the Invest in our New York (IONY) campaign found that 72% of state residents believe raising taxes on the ultra rich should be the foundation of a comprehensive plan to address any state budget shortfall rather than cutting services that are pivotal for the social and economic wellbeing of New Yorkers. While the ultra-rich grow richer and corporations make record profits, average New Yorkers are struggling to make ends meet and some are being forced to leave the state. We need to put our communities over corporations and Invest in Our NY.”
"New York has a moral obligation to provide permanently affordable housing, comprehensive senior services, an enduring environment and progressive policy and interventions at multiple levels. The true beauty of the IONY package of bills is that it pays for all of these just and necessary causes in full through very modest changes to our fiscal policy. Each and every IONY proposal should be included in the final FY 2024-25 Budget," said Senator Cordell Cleare.
“Making daily life more affordable for everyday New Yorkers requires bold action, and Invest in Our New York is leading the charge to improve the livelihoods of communities across the state,” said Senator Jeremy Cooney.
“I stand firmly against a proposed state budget that threatens to slash funding for essential services like public education and Medicaid,” said Senator Nathalia Fernandez. “The strength of New York lies in its diversity – from working-class families to immigrants and communities of color, all of us have an inherent right to live in a healthy and vibrant community with well-funded public services. We remain committed to fighting for meaningful investments like robust schools, accessible and comprehensive healthcare, quality affordable housing, and a clean, unpolluted environment, all of which lay the groundwork for New York's future.”
“I strongly support the Invest in Our New York’s campaign to get our priorities right when it comes to taxes and spending,” said Assemblymember Robert Carroll. “We need to put money into social housing, we need to fully fund our schools and support practices that have been proven to work so all our children can be successful students, we need to ensure that everyone has quality healthcare, and that everyone is paid a living wage.”
“Budgets are moral documents: that’s why I’m proud to join faith leaders in their clarion call for a morally sound budget in New York State. There is more than enough wealth to go around in our state: to pay for affordable housing, excellent public schools, and improving public transit. As the most unequal state in the nation, we need to enact tax policies that redistribute this wealth. As Governor Hochul has said herself, working-class New Yorkers are leaving the state because of the rising cost of rent and living, not taxes. I’m committed to fighting for a more just 2025 budget that works for every New Yorker who works for a paycheck, not the billionaires and corporations,” said Assembly Member Zohran K. Mamdani.
"Everyday New Yorkers are being pushed out of their homes and forced to move out of state because of skyrocketing rents and a lack of truly affordable housing. As working class and low-income people struggle to make ends meet, New York's wealthiest residents have avoided paying their fair share," said Assemblymember Linda B. Rosenthal. "Helping people access safe and stable housing, including through my Housing Access Voucher Program legislation, strengthening our education system, expanding access to childcare and more are all within reach when we prioritize the needs of New Yorkers over more handouts to the ultra-wealthy. I am proud to stand with faith leaders and advocates from across the state to demand a budget that reflects our morals."
“I am proud to support and co-sponsor every bill in IONY’s robust legislative package. These vital policies would increase investment in our schools, healthcare, and climate-resilient infrastructure. As working-class New Yorkers face an affordability crisis, we cannot afford to respond with half-measures. IONY and I are rallying for a budget that will lift our state, and we are determined to get the job done,” said Assembly Member Rebecca A. Seawright.
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