NY Gov. Cuomo Proposes Raising Top Income Tax Rate To Highest In The Nation

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New York City already suffers from the biggest big city exodus in the US, with recent data from the USPS showing that 300,000 New Yorkers have bailed from the Big Apple in the March-November 2020 period. And if NY governor Andrew Cuomo gets his way, the exodus is about to get far worse.

According to Newsday reporter Yancey Roy, Gov. Cuomo is proposing to raise the top tax rate – on those with annual income over $5 million – from 8.82% to 10.82%, unless the Federal Government comes through with $15 billion in aid to NYC.

If the Cuomo tax passes, taxpayers in the highest income bracket would pay a combined city and state rate of 14.7%, the highest in the nation. – READ MORE

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