State legislators reject Hochul’s education aid changes, propose tax hikes on wealthy earners

"The New York State Legislature is pushing back on Gov. Kathy Hochul’s budget proposal, introducing alternative plans that would raise taxes on wealthy earners and increase funding for schools across the state."

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Both chambers also propose raising the income tax rate for businesses and people making more than $5 million. The income tax for earners with a personal income over $5 million but not over $25 million would rise from 10.3% to 10.8% and for earners making over $25 million from 10.9% to 11.4%, from 2024 to 2027.

Read the full Riverhead Local article here