Economy & Tax Policy Archives

GOP Gubernatorial Candidate Bruce Blakeman Blasts Mamdani ‘Death Tax’ Proposal

10Apr

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Economy & Tax Policy

GOP Gubernatorial Candidate Bruce Blakeman Blasts Mamdani ‘Death Tax’ Proposal

Republican gubernatorial candidate Bruce Blakeman is sharply criticizing a controversial estate tax proposal from New York City Mayor Zohran Mamdani, arguing the plan would disproportionately impact middle-class families across New York. The proposal, which aims to address a multibillion-dollar budget deficit, has quickly become a flashpoint in the state’s ongoing debate over tax policy and affordability. What Happened Mamdani has proposed a sweeping overhaul of New York’s estate tax system, lowering the exemption threshold from $7.35 million to $750,000 while increasing the top tax rate to 50%. According to a report by New York Post, the plan is intended to help close a $5.4 billion budget deficit. However, critics argue that the dramatic reduction in the exemption threshold coul...

NY Dems Push Corporate Tax Hike to Address Mamdani Budget Deficit

10Apr

By USPRNo Comments

Economy & Tax Policy

NY Dems Push Corporate Tax Hike to Address Mamdani Budget Deficit

What Happened New York Democrats are pushing a corporate tax hike to address a projected $5.4 billion NYC budget deficit tied to Mayor Zohran Mamdani’s fiscal plans, signaling growing support in Albany despite resistance from state leadership. According to a report by New York Post, lawmakers aligned with Assembly Speaker Carl Heastie and Senate Majority Leader Andrea Stewart-Cousins are increasingly backing higher taxes on businesses as a politically viable solution. Key Details Growing Support in Albany Lawmakers say there is a “huge appetite” for raising corporate taxes at both the city and state levels. These proposals are being considered as one of the most viable ways to generate billions in revenue and support expanded public programs. Scale of the Deficit T...