STATEMENT: “GOVERNOR HOCHUL FAILS TO MEET THE MOMENT:” INVEST IN OUR NEW YORK RESPONDS...

FOR IMMEDIATE RELEASE Date: Wednesday, February 1 Contact: press@revenuecampaign.com

“GOVERNOR HOCHUL FAILS TO MEET THE MOMENT:” INVEST IN OUR NEW YORK RESPONDS TO GOVERNOR’S EXECUTIVE BUDGET PRESENTATION

ALBANY, NY – Following Governor Hochul’s Executive Budget presentation, Carolyn Martinez-Class, Invest in Our New York (IONY) Campaign Manager, released the following statement on behalf of the Invest in Our New York Campaign: “To no one’s surprise, Governor Hochul’s budget proposal presentation continues to prioritize corporate giveaways while failing to sufficiently invest in the services and programs that keep all New Yorkers safe and thriving. “Fortunately, the Senate and Assembly can provide a check on the Governor’s austerity-driven budget. Our elected officials can and must deliver for the people who elected them to office: the retail worker struggling to put food on the table because they make $15 an hour… the parent who left their career because childcare is too expensive… the tenant who can’t afford the $500-per-month increase in rent… the asthma patient putting off a doctor’s visit because they don’t have health insurance. “The Invest in Our New York Campaign knows what it takes for our communities to thrive: public dollars directly invested in the public services every New Yorker relies on, not balancing the budget on the backs of working people through backward taxes that will fail to raise the public funds we need. Millionaires, billionaires, and wealthy corporations have been getting rich off our neighbors' labor without paying what they owe for far too long. We must build on our 2021 corporate tax reform by making the corporate tax permanent and increasing rates on the most profitable corporations so that they pay what they owe New York. We must also close tax-evading loopholes used by billionaires, like Madison Square Garden’s James Dolan and Vordano’s Stephen Ross, that effectively deny critical resources to our communities. We must prioritize New Yorkers who keep our state running, and make sure one job is enough to put food on the table, every child attends a high-quality childcare program, our neighbors are permanently housed, and every New Yorker can see a doctor and stay healthy. "If Governor Hochul really believes she can “meet the moment” and make real progress for New Yorkers, then she will join the dozens of legislators and a majority of New Yorkers who support making the ultra-rich pay what they truly owe in taxes and investing those newfound billions directly into the public programs that help the many, not the few.” Invest in Our New York Campaign Steering Committee Organizations released the following statements: “With millions of New Yorkers struggling to pay rent and afford child care, we need to make long overdue investments in the public good. The Governor’s budget proposal falls short of making the investments we need. By passing the Invest in Our New York package, we can make a downpayment on New York’s future, which will help lower the cost of housing, child care, education, and create well-paying green jobs,” said Sharon Cromwell, Deputy Director of the New York Working Families Party. “The Governor’s budget patches together a series of half-measures to meet the needs of New Yorkers. On the surface, the budget appears to satisfy some of the needs of New Yorkers, but under the surface, the budget falls dramatically short. DSA will not be satisfied with a New York state budget that does not address the fact that New York is the most unequal state in the nation and that the majority of New Yorkers favor increasing taxes on the rich. We live in a time of such extreme wealth disparities that global leaders everywhere know that something must be done. Kathy Hochul wants New York state to be a leader, but she will fail as long as she denies raising taxes on capital gains (both realized and unrealized) and on inheritance income.” said Emily Eisner, PhD., Democratic Socialist of America spokesperson. “At a time of unparalleled economic insecurity among the vast majority of poor and working New Yorkers, we need a Governor that leads with ambitious investment in the public good, using public funds," said Jawanza Williams, Director of Organizing with VOCAL-NY. “Nearly 100,000 people experience homelessness across New York; in NYC alone, more than 1 in 10 public school children go to school from a shelter. They need stable housing now and in the future.We need a state budget that commits public dollars to the public good by funding popular legislation like the Housing Access Voucher Program; anything less is an abject violation of the trust and faith of working-class New Yorkers who are in crisis today.” “In her State of the State speech, Governor Hochul quoted Frances Perkins: ‘A government should aim to give all the people under its jurisdiction the best possible life.’ Hochul’s budget fails the standard she set for herself – it provides more and more tax breaks and subsidies for billionaires and wealthy corporations, while shortchanging New Yorkers struggling with an affordability crisis, a housing crisis, and a climate crisis,” said Michael Kink, Executive Director of the Strong Economy For All Coalition. "Governor Hochul is choosing to prioritize the ultra-wealthy at a time when New Yorkers are facing enormous obstacles just to meet their most basic needs,” said Jasmine Gripper, Executive Director of Alliance for Quality Education. “New York's families and child care providers are contending with an ongoing crisis, unfolding on multiple fronts. Inadequate pay and support for the childcare workforce, the lack of affordability and access for families, and the persistence of unnecessary barriers prevent our childcare system from working for families and providers alike. Child care is an education issue, an economic issue, and a racial justice issue. We need urgent action from our state leaders and an investment of $5 billion to put us on a path to universal child care." “This budget has made clear who Governor Hochul truly serves. Let’s be honest, when income inequality is at a record high, there’s no way to fund the kind of investments we need for safe and healthy communities by balancing the budget on the backs of the working class. Her billionaire donors must surely be happy,” said Olivia Leirer, Co-Executive Director of New York Communities for Change. “The Governor’s budget is a missed opportunity to move New York forward because of her unwillingness to raise taxes on the ultra-wealthy. The real engine of our economy is the everyday striving New Yorkers whose work, spending and energy keep things going,” said Rebecca Garrard, Legislative Director for Citizen Action of NY. “By ensuring the ultra-rich and wealthy corporations to pay what they owe, our state would have the money to make life a little more manageable for everyday New Yorkers. We could invest in things like great schools; universal child care; high-quality, low-cost housing; and more. Now we’re calling on the legislature to do better by New Yorkers–when we make the well-being of the people our top priority for how we use our public money, we all win.”

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