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Will New York tax the wealthy to generate more revenue for state programs? Hochul looks resistant to progressive cause

New York gets a lot of grief for being a high-tax state.

Especially from Republican voters.

But Governor Kathy Hochul, weeks after winning a full-term, is pushing back on a campaign to raise taxes on the ultra-wealthy.

The campaign itself is called “Invest in Our New York,” and has seen support from progressive lawmakers and advocates. The goal is to push a major tax increase on the ultra-wealthy, to fund a number of essential services and improvements.

It’s not an unusual campaign or tact from those progressive circles.

The state increased taxes on the ultra-wealthy in 2021. Critics say there’s simply too much taxation happening, and more will just drive them out of New York.




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