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Home » News » New York State » Where will NYS find revenue to cover programs? Could be higher taxes?

Where will NYS find revenue to cover programs? Could be higher taxes?

Assembly Speaker Carl Heastie signaled Tuesday his Democratic conference next year will seek ways of raising more revenue for the state to close a $6.1 billion budget gap.

Heastie was careful not to say this would come in the form of a tax increase, which the conference has sought in the past in the form of taxing upper income earners in New York.

As a proposal, it could mean taxing the ultra wealthy, people who earn well into the millions of dollars.

Still, there are other options for lawmakers and Gov. Andrew Cuomo to raise revenue short of a broad-based tax rate hike. Here are three of them.

Read more from Spectrum News

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