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Cuomo: Income tax hike for rich likely if no federal aid arrives

NOVEMBER 25, 2020 | by Nick Reisman | SPECTRUM NEWS

By Nick Reisman, includes “New York would be forced into hiking its income tax on its wealthiest earners if a federal aid package fails to materialize in Congress, Gov. Andrew Cuomo on Monday warned. ‘If we don't get funding from Washington, there will be an income-tax increase,’ Cuomo said …” (Note: New York State reported more than $80 billion in operating and capital grants last year, mostly from the federal government.)

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