New Yorkers Could Face ‘Dramatic Tax Increase’
New Yorkers could face what Governor Andrew Cuomo calls a 'dramatic tax increase' to cover the gap created by COVID-19 if Washington doesn't provide financial aid.
A letter was sent to Congress asking for financial help. "We can not close this financial gap without federal aid," Cuomo said in a daily press briefing. "If we do not get federal funding, the consequences are going to be devastating to this state, and the families and governments within the state."
Without federal help, Cuomo says New Yorkers could see several thousand government workers laid off in addition to tax increases. "You probably will see tax increases in any event, pardon my skepticism about Washington, but you could see dramatic tax increases that would hurt families and hurt the economy. If the MTA doesn't get funding they could lay off 7,000 MTA workers. They would have to raise bus and train fares and tolls."
It's not just New York facing a budget deficit either. "I talk to Governors all across the country. Every state is in basically the same situation," Cuomo said.
Family and businesses already struggling to stay afloat since the coronavirus pandemic hit in March, can't take another financial hit with increased taxes. "You hurt families who don't have a paycheck. You hurt small businesses that have been hanging on by their fingernails for months. This is the last thing you want to do nationally. You want this economy picking up, not slowing down."
New York City Mayor Bill de Blasio stood with Cuomo on a call to Congress for financial aid. "I can say on behalf of all cities, towns, counties in New York State, we all need aid as well or we will not able to stay on our feet. We will not be able to provide the services people need. It is literally an insult to the families who lost their loved ones if Congress does not give us the support we deserve."
“There’s no reason why New Yorkers should bear more pain,” Cuomo said.