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Pressure Mounts on Governor to Pass New York’s Tax on the Rich | The NY Journal


The net worth of the state’s 118 billionaires increased by $ 77 billion during the months of the coronavirus pandemic, according to promoters of the bill.

Pressure Mounts on Governor to Pass New York's Tax on the Rich

The ombudsman, several legislators and activists in front of the so-called “the richest building in the world”, on Park Avenue.

Public Advocate Office / Courtesy

A broad coalition of elected officials and leaders of community-based organizations pressed again for New York pass legislation that levies a tax on billionaires who operate or reside in the state. The extraordinary measure seeks to balance the economy hit by unemployment and loss of business after 7 months leading the coronavirus pandemic.

This Wednesday after noon a large demonstration took place in front of the 740 Park Avenue, called “the richest building in the world”. There the protesters urged Governor Andrew Cuomo to approve the bill S.8277 / A.10414, which creates the billionaires tax that would collect $ 23 billion in its first year.

State Sen. Jessica Ramos, proposed in May at the State legislature the bill designed to oblige 118 state billionaires, to pay a wealth tax, which allows funding relief plans for essential workers and immigrants who lost their jobs and were not included in the federal Fiscal Stimulus Act.

The Democratic legislator that represents the Queens District 13 explained that his bill will provide thousands of New Yorkers excluded from federal aid, the support they need to overcome this crisis.

The governor you must decide where you stand. There are common sense revenue raising measures we can enact and the governor refuses even to consider them ”, said the Ombudsman of the Big Apple, Jumaane Williams.

According to the coalition, while millions of New Yorkers lost their jobsstruggling to feed their families and pay rent, new data recently revealed that the net worth of 118 New York billionaires increased by $ 77 billion during the coronavirus, or 15%, from March 18 to June 17.

The pandemic made them richer

“We have more billionaires in New York today than before the pandemic. Collectively they represent more de $ 500 billion and have won about $ 77 billion more in recent months, ”Ramos said.

According to the senator, ask these 120 people who contribute to a fund that raises $ 23 billion it’s really an easy decision for them and it could improve the lives of thousands of New Yorkers.

“It’s the right thing to do and the faster we do it, the faster we avoid greater economic calamity“Added the state senator.

Meanwhile, State Assemblywoman Carmen de La Rosa commented that, as legislative leaders, “we cannot turn a blind eye to our most vulnerable citizens.”

“Today we call on Governor Cuomo to listen to our plan and tax billionaires to create a fund for excluded workers. We will continue to demonstrate for the excluded workers because they deserve to be supported and treated as the worthy members of our communities that they are, ”he said. De La Rosa.

Barika X. Williams, executive director of the Association for Housing and Neighborhood Development (ANHD), asserted that up to 53% of undocumented New Yorkers are burdened by rent, spending more than half of their income to cover that item.

“At a time when federal rent relief is far from assured, unemployment in the city has reached levels not seen in decades, it is the responsibility of the state to provide basic services, social and economic resources for all residents,” he said. Williams in justifying the legislation.

The new protest came as the Governor has been reluctant to give the legislation the green light, saying his Administration has instead chosen to cut budgets in $ 4 billion. The Governor’s office did not issue any reaction on the protesters’ demand.

Organizations that took part in the rally included: Make the Road New York, New York Communities for Change, Jahajee Sisters, Street Vendor Project, Urban Justice Center, DRUM (Desis Rising Up and Moving), National Day Laborer Organizing Network and Jews for Racial and Economic Justice.



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