Activists call for NY to raise taxes on the rich to provide support

The legislators of the State of New York discuss the possibility of approving budgets that include a tax hike for millionaires in the region, while activists press for the creation of a fund of 3.5 billion dollars for undocumented workers who have been left out of the aid and incentives granted to counteract the ravages caused by the pandemic.

Dozens of activists demonstrated this Monday in Albany, the administrative capital of the state, to try to pressure politicians and the governor Andrew Cuomo, that in principle he is not in favor of the initiative, but that he is experiencing his worst political moment involved in several political scandals.

The head of the activist group Make The Road Nueva York, Débora AxtHe expressed that he hopes to possibly reach a draft agreement on the new budgets and they will be approved in the next few days.

This organization has been pushing for months for the creation of this fund, which could benefit some 350,000 workers, as well as for the imposition of a special tax on the largest fortunes in New York.

“All New Yorkers deserve respect, we support the economy of this country. We want justice,” he said. Make The Road in a Twitter message accompanied by a photo of a group of people protesting next to the governor’s residence, some of them on a hunger strike for three weeks.

The tax agreement seeks an extra income of 4.3 billion dollars, which would be obtained thanks to the new rate, which would be established until 2027 to the largest fortunes, several local media report. People with incomes over a million dollars would see their state taxes go up to 9.65 percent from the current 8.82 percent.

Also, people with more than 5 million dollars in profits would pay 10.3 percent and those who earned more than 25 million would have to leave 10.9 percent of their benefits to the state coffers. To state taxes, we would have to add the 3.88 percent charged by the city to the highest incomes, with which the range for millionaires would be between 13.5 and 14.8 percent.

So far, California is the state that taxes large fortunes the most, taxing 13.3 percent on people with more than $ 1 million in income. Additionally, lawmakers are also discussing the possibility of raising the corporate franchise tax from the current 6.5 percent to 7.25 percent through 2023.

Republican legislators, a minority in both houses, consider that this increase is not necessary and have insisted that the budget deficit can be addressed with the aid approved by the federal government that includes a general fund of 12 thousand 600 million dollars and an additional one for educational and health programs.

Read Also:  Coronavirus | New York State has ordered a halt to all non-essential activities

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