In response to yet another fiscal outlook where Wall Street and the ultra-rich are doing just fine, Invest In Our New York Campaign Director Carolyn Martinez-Class released the following statement:
“Contrary to what Governor Hochul claims in her recent mid-year fiscal outlook, New York communities continue to be starved of resources. And let’s be clear: a modest increase in expected revenue won't close the MTA operating funds budget gap created by the governor. It won't help increase pay for childcare providers, cover the essential repairs needed for public housing, transition our power grid system to 100% clean energy, or provide unemployment insurance for our most essential workers.
So, what would help in providing permanent, sustainable funding for the programs and services New Yorkers rely on? Making the ultra-rich pay their fair share. With Wall Street profits up over 79% from last year and CEOs earning 200 times more than their workers in 2023, the wealthy can undoubtedly afford to contribute a little more so everyone can meet their basic needs—and they wouldn’t even notice the change in their bank accounts.
“Governor Hochul is the only barrier to a more equitable and affordable New York. Even President Biden and Vice President Harris have touted the need to make the ultra-wealthy pay their fair share. But Hochul would rather fund her campaign with donations from obscenely rich donors than use their tax contributions to fund public programs and services for all New Yorkers. It’s time for that to change.”
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