State Legislators Can Still Keep Hochul from Selling Out New Yorkers to Billionaires

State lawmakers, advocacy groups and New Yorkers directly impacted by federal cuts urge leadership to hold the line on taxing the ultra-rich after Gov. Hochul’s premature announcement of a budget “agreement”

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Albany, NY –– State elected officials, community organizations and New Yorkers poised to lose their healthcare, food and housing assistance called on Majority Leader Stewart-Cousins and Speaker Heastie to hold the line in negotiations with the governor Monday, days after Gov. Hochul’s embarrassing and premature announcement of a budget “agreement” that largely fails to tax the ultra-rich.

In a press conference at the State Capitol, advocates urged Albany leadership to fight for the inclusion of a pass-through-entity tax (PTET) reduction for millionaire business owners in New York City, a statewide pied-à-terre tax, and the rest of the progressive revenue proposed in the one-house budgets. In these final days of the legislative session, Gov. Hochul must agree to a budget that generates billions of dollars — not millions — in progressive revenue to meet New Yorkers’ urgent needs, they said.

While the governor’s embrace of a tax on pieds-à-terre in New York City is a necessary first step that reflects the widespread popularity of taxing the rich and the extraordinary pressure this movement has built, it does not go far enough to tackle the city’s budget shortfall and completely excludes the rest of the state. Gov. Hochul’s so-called budget agreement also fails to prevent hundreds of thousands of New Yorkers from losing their SNAP benefits or Medicaid or Essential Plan coverage, fund truly universal childcare statewide, and address our state’s dire affordability crisis.

An increasingly powerful coalition — including labor unions representing more than 300,000 workers statewide, majorities of New York voters, Senate and Assembly lawmakers, and even some New York millionaires — agrees the wealthiest New Yorkers and most profitable corporations must pay their fair share in taxes. The budget may be nearly done, but Gov. Hochul still has time to listen to the legislature and side with working-class New Yorkers, not her billionaire donors.

“A budget is a statement of priorities, and in this era of entrenched economic inequality and a rogue federal government, the governor’s top priority should be protecting working- and middle-class New Yorkers from austerity and our spiraling cost-of-living crisis,” said Brahvan Ranga, Campaign Manager for Invest in Our New York. “After trying and failing to announce a budget ‘agreement,’ Gov. Hochul now has a second chance to show New Yorkers where she stands. Will she go down in history as the governor who saved 1 million New Yorkers from losing their health insurance and 200,000 from losing SNAP benefits, or as another corporate Democrat beholden to billionaire donors?”

“New York is one of the wealthiest states in the nation, and we have more than enough resources to build truly universal child care, fully fund our schools, and so much more. Instead, Governor Hochul is saying she's ready to pass a budget that would leave nearly 20,000 children on child care waitlists and leave child care educators earning poverty wages. If we want New York to be a place where families can thrive, we need to put our money where our mouth is. The Senate and Assembly must stand up to the Governor’s bullying and insist on doing right by New York's children and families,” said Zakiyah Shaakir-Ansari, Co-Executive Director of the Alliance for Quality Education.

“Governor Hochul has continued to make an active choice to prioritize the ultra wealthy and her special interest donors over working class families across New York,” said Kylynn Grier, Membership Director at Citizen Action of New York. “Hochul is claiming victory while so many New Yorkers are unable to afford groceries, rent and utility bills. As a mother from Buffalo, Governor Hochul knows what families across the state urgently need — revenue raising measures. We call on the governor to stop playing political games and start prioritizing the everyday New Yorkers who are counting on real leadership and meaningful action.”

“Community Voices Heard members — Black and brown New Yorkers from Harlem to Poughkeepsie — are facing an affordability crisis. They are paying over half their income in rent, losing healthcare coverage, and trying to figure out how to afford food without SNAP,” said Tamara Brummer, Senior Advisor, Organizing at Community Voices Heard. “Governor Hochul's proposed budget does not meet this moment. A pied-à-terre tax in NYC is a start, but it leaves the rest of New York behind. We need billions, not millions, in progressive revenue to protect Medicaid, SNAP, and the affordable, public housing our communities rely on. We call on Majority Leader Stewart-Cousins and Speaker Heastie to hold the line. Our members cannot afford for Albany to get this wrong.”

“With yet another egregiously late budget, it’s clear that Governor Hochul has forgotten who she was elected to serve. Her proposed budget reflects her decision to leave upstate behind and prioritize her billionaire donors over the 71% of New Yorkers who support taxing the rich,” said Xaver Kandler, Political Director at For the Many. “But everyday people — the folks who are going to lose their healthcare this summer, the parents who were promised universal childcare that Hochul won’t fund — won’t forget. We will remember who abandoned our communities to protect corporate profits and who stood with us in fighting for a New York that doesn’t just work for the rich, but provides for the many.”

"As our people continue to suffer under the crushing affordability crisis and New Yorkers' growing risk of being stripped of food and healthcare benefits, the state legislature must take bold actions to provide relief for working-class communities. While the proposed pied-à-terre tax is a step forward, it will not produce nearly enough revenue to address the budget gap or protect the families that the federal cuts will impact," said Jennifer Hernandez, Director of Campaigns at Make the Road New York. “Governor Hochul and the legislature must pass common-sense proposals to raise taxes on the ultra-rich so that they pay their fair share, and invest to fully fund social safety net programs, including protecting nearly half a million people who are poised to lose their healthcare in two months.”

“Governor Hochul promised  to tackle New York’s affordable housing crisis, but her budget ‘agreement’ abandons the $200 million increase to the Housing Access Voucher Program that legislators, mayors, and county executives across the state are demanding. HAVP is one of the most direct tools we have to keep families in their homes and re-house New Yorkers pushed out by skyrocketing rents — and she’s leaving it on the table,” said Adolfo Abreu, Housing Campaigns Director at VOCAL-NY. “The deal is not done. Legislative leaders must keep fighting to include the full suite of progressive revenue — a statewide pied-à-terre tax, reduction of the PTET credit for NYC millionaire business owners, and the rest of the one-house proposals — so we can actually fund the housing relief New Yorkers need.”

“New Yorkers cannot afford a budget built on half measures while working families face the real consequences of federal cuts and rising costs. Across our state, families are worried about keeping a roof over their heads, accessing healthcare, putting food on the table, and affording basic necessities,” said Assemblymember Manny De Los Santos. “We have a responsibility to meet this moment with bold action. The resources are there, and that means asking the ultra-wealthy and the most profitable corporations to pay their fair share so we can protect the services our communities rely on. This is about standing with working people and delivering a budget that reflects the values of fairness, dignity, and opportunity that New Yorkers deserve.”

“Across New York State, from the Capital Region to the Hudson Valley and the Adirondacks, we are seeing an exponential increase in luxury investor properties and second homes on steroids, many of which sit vacant for much of the year while driving up costs for full-time residents,” said Senator Patricia Fahy. “Cities, towns, and villages outside of New York City have seen AIM funding remain largely unchanged in the last decade or more, even as local governments face rising costs and an exodus of young people and families who have been priced out of the communities they grew up in. For too long, these properties have contributed to a hollowing out of communities Upstate, in Long Island, the Adirondacks, Finger Lakes, and across New York State, in some instances, by turning them into part-time ghost towns.”

“The governor’s recently announced budget agreement falls short of the revenue-raising initiatives that New Yorkers need to stay afloat in an affordability crisis,” said Senator Kristen Gonzalez. “The Trump administration is threatening people’s livelihoods by making SNAP benefits and healthcare coverage less accessible, and New York must pass real solutions in this budget cycle. A pied-à-terre tax is not enough. We need to increase the corporate tax rate in New York City and reduce the Pass Through-Entity Tax (PTET) credit so the wealthiest New Yorkers pay their fair share. We need to tax the rich.”

Senator Robert Jackson said, “New York cannot balance its future on the backs of working families while luxury apartments sit dark above neighborhoods struggling to survive. A statewide pied-à-terre tax is not about punishment. It is about responsibility. In a moment of deep inequality and devastating federal cuts, those who benefit most from New York’s prosperity must help sustain the schools, housing, healthcare, and public services that keep our communities alive. A budget is a moral document, and moral documents must choose people over privilege.”

“Working class New Yorkers need a budget that puts affordability and people first. Support for our communities means investing in universal childcare, protecting healthcare and SNAP. Promising to strengthen these programs while failing to ask the wealthiest individuals and largest, most profitable corporations to finally pay their fair share will just result in continuing to balance our budget on the backs of working families. We must keep pushing to ensure the final budget reflects the legislature’s commitment to a more just and equitable New York,” said Assemblymember Anna Kelles.

“The budget is not done yet, and we still have to fight for more support for working families,” said Assemblymember Grace Lee. “While the pied-à-terre tax is a critical first step, we need more to combat federal cuts, and address the affordability crisis that families face. We need to make sure that the wealthiest New Yorkers and corporations who can do more, pay more, to ensure that all New Yorkers have the support they need.” 

Senator John Liu said, “At a time when the federal government has already issued billions in tax breaks to the ultra-rich, it is entirely appropriate for New York to ask those who have most benefited to pay their fair share in order to safeguard the essential programs and services that so many families rely on. With families struggling to pay the bills for everything from childcare, to healthcare, to housing, now is the time to deliver true affordability to working families.”

“Governor Hochul’s rushed declaration of a budget ‘agreement’ does not change the reality facing working-class New Yorkers across our state. Families in Sunset Park, Red Hook, and communities like mine are struggling to afford rent, groceries, childcare, and healthcare while billionaires and corporations continue to benefit from a tax system rigged in their favor,” said Assemblymember Marcela Mitaynes. “At a moment when federal cuts are threatening SNAP, Medicaid, and other critical lifelines, Albany cannot settle for half-measures. We need bold progressive revenue that asks the ultra-wealthy to finally pay their fair share so we can fully fund the services and protections our communities depend on. The legislature must hold the line and deliver a budget that puts working people ahead of billionaire donors and corporate interests.”

“New York is at a breaking point. With nearly 500,000 New Yorkers set to lose Essential Plan coverage on July 1 and hundreds of thousands more at risk of losing SNAP benefits, we cannot ask working families to bear the burden while the ultra-wealthy are let off the hook. That’s why I support raising taxes on those making over $5 million, closing corporate tax loopholes, and reforming policies like the PTET credit that have long allowed the wealthiest New Yorkers to avoid paying their fair share,” said Assemblymember Steven Raga.

“While Governor Hochul’s proposed pied-à-terre tax is an important first step, our state must do more to make New York a great place to live for all New Yorkers, not just the ultra wealthy. New York is home to the highest concentration of wealth in the country yet our tax system coddles them while making working class New Yorkers foot the bill,” said Senator Gustavo Rivera. “Given the affordability crisis and budget shortfalls our state is already facing, we need to make every effort to raise more revenue and make the billionaires and corporations pay their fair share.”

“New Yorkers across the state, including our upstate communities, are feeling the affordability crisis every single day. People are struggling, and we can’t stop halfway on building a fair budget in New York,” said Assemblymember Gabriella A. Romero. “That means making sure that the wealthiest New Yorkers and most profitable corporations pay their fair share so we can invest in social programs that keep our working families stable and ensure they can afford to live in the communities they call home. When we invest in working people, we invest in the future of our entire state.”

“New Yorkers are demanding that the legislature enact progressive tax reforms,” said Assemblymember Linda B. Rosenthal. “The inclusion of a pied-a-terre tax in our final budget is welcome news, but it does not close the city's budget deficit, nor does it counteract the billions in cuts to New York state being levied by the Trump administration. By asking the wealthiest New Yorkers and corporations to pay their fair share, we can shield New Yorkers from some of the harms of this federal administration and deliver universal childcare, affordable healthcare, continued SNAP benefits and other essential services.”

“The ultra-wealthy continue to grow even richer under the current federal administration. Most New Yorkers agree — it shouldn't be on the backs of our working families. The New York City pied-à-terre tax alone will not generate the revenue needed to address budget gaps, federal cuts, and the rising cost of living across the state. We need to make it statewide, create a pass-through-entity-tax, and deliver on the very reasonable, progressive measures in the Assembly's one-house budget. Governor Hochul, the wealthiest New Yorkers and most profitable corporations should pay their fair share, so we can protect the essential services families rely on every day,” said Assemblymember Jo Anne Simon.

“While we await the full details of the final budget, I have frankly been very disappointed in how much corporate interest groups from outside the state and the wealthy have shaped some of the policy proposals of the governor,” said Assemblymember Phil Steck. “For instance, Uber has spent over $8 million in advertisements promoting so-called auto insurance reforms that will do nothing to lower my constituents auto insurance rates. The evidence shows that auto insurance payouts have decreased in the last two decades while prices have risen. Further, auto insurance company owners have become extremely wealthy even buying personal jets. The only reason they are lobbying so hard is because Uber and insurance company executives will make even more money at the expense of middle class families. Another example is how the governor wants to roll back the CLCPA and the SEQRA process allegedly so housing can be constructed faster.  That does not correlate with the building of affordable housing. Luxury housing continues to be the priority of the vast majority of developers because that is where the highest profit is. Simply put, this budget does not help the middle class in the long run and will only help the 1%. I will continue to advocate for policies that will benefit my constituents, not the uber-wealthy.”

“The president's reckless decision to hand out massive tax cuts to the wealthiest Americans — and our governor's choice to let him get away with it — is so demonstrative of a broken politics and the moral rot at the heart of establishment leadership,” said Assemblymember Claire Valdez. “New York is the most unequal state in the country, and New York City has a $5.4 billion deficit. State leaders should be protecting New Yorkers from Trump's fascist austerity agenda, not signing off on it.”

“With the federal government targeting New Yorkers and cutting essential services like healthcare, our state must take action to protect our most vulnerable communities,” said Senator Lea Webb. “The Invest in Our New York package will ensure the wealthiest New Yorkers pay their fare share of the tax burden so that working families across New York have affordable services they can count on.”

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