Click here: to donate by Credit Card
Or here: to donate by PayPal
Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794
Thank you very much and God bless you.
Posted on 03/02/2026 12:45:23 AM PST by Libloather
Mayor Zohran Mamdani’s pals in the state Legislature are pushing a bill to give him the power to slap a 25% tax liability “surcharge” on Big Apple corporations.
The democratic socialist mayor and his liberal followers have been on an ideological crusade to hike taxes on the wealthy and corporations to pay for their freebie-filled promises made during the 2025 campaign.
“This legislation would authorize New York City to charge a surcharge on corporate taxes, allowing the city to increase its corporate taxes should the mayor and City Council deem this necessary and appropriate,” said Assemblywoman Diana Moreno and Sen. Kristen Gonzalez in a memo summarizing their legislation.
Moreno, a fellow democratic socialist, was elected to fill Mamdani’s Assembly seat in Astoria after he left the state legislature and took office as mayor.
Gonzalez’s district covers parts of Western Queens, Northern Brooklyn and the East Side of Manhattan.
“Revenues generated from a corporate tax could contribute to addressing the affordability crisis and strong public services for residents of the city,” the lawmakers said.
But a summary of the bill does not specify how much the corporate tax hike would raise in revenue, stating it is “to be determined.”
Mamdani said he prefers Gov. Kathy Hochul and the legislature raise the income tax on millionaires or the corporate tax rate to help bridge a multi-billion-dollar gap in his budget plan and finance his ambitious agenda, rather than his “last resort” plan — an unpopular 9.5% property tax hike, which appears dead on arrival in the Council.
(Excerpt) Read more at nypost.com ...
|
|
Click here: to donate by Credit Card Or here: to donate by PayPal Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794 Thank you very much and God bless you. |
Wow! That’s a big increase. I’m pretty sure they may enjoy living in Miami more than NYC soon.
Never mind cut spending and I bet he can cut a ton wasted/useless spending
Yep, that great sucking sound is jobs fleeing the state.
WALL STREET ALREADY IS MOVING SOME PARTS TO TEXAS & SOME TO FLORIDA
🍿🍿🍿
Zorhan D@mCommie
If any and all corporations are not looking to exit NY and NYC, they are filled with fools.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.