Twenty-two Members of the New York City Council released a joint statement calling on the State Legislature and Governor Hochul to pass the Fair Share Act, legislation that would grant New York City the authority to enact a 2% income tax increase on millionaires.

New York, NY: Amid a profound fiscal crisis, our city stands at a crossroads. The power to bring New Yorkers relief rests with Governor Hochul and the State Legislature. 

It is time to Tax the Rich. 

New York City does not have the authority to change its own income tax rates without the State’s approval. That power remains in Albany. Therefore, as Members of the New York City Council, we urge the State to pass the Fair Share Act.

The Fair Share Act would grant New York City the authority to enact a 2% tax increase on those earning over $1 million a year. It would give our City the power to require more from those who can afford it in service of the common good. We are asking the State to entrust our City with the authority to govern in the interest of working people.

Accordingly, we will not govern by myth. Millionaires will not flee because they are asked to contribute more. It is the working class fleeing the city at an alarming rate. 

Our neighbors cannot be forced into decisions between paying the bills and putting food on the table, while the wealthiest are protected from paying what they owe. A small increase for the wealthiest is reasonable. It is responsible.

We urge the elected leadership at the State level to give New York City the tools to secure its own fiscal future and choose long-term stability over austerity.

Signed,

Council Member Chi Ossé

Council Member Shirley Aldebol

Council Member Alexa Avilés

Council Member Tiffany Cabán

Council Member Elsie Encarnacion

Council Member Harvey Epstein

Council Member Amanda Farías

Council Member Jennifer Gutiérrez

Council Member Ty Hankerson

Council Member Shahana Hanif

Council Member Crystal Hudson

Council Member Rita Joseph

Council Member Shekar Krishnan

Council Member Chris Marte

Council Member Sandy Nurse

Council Member Carmen De La Rosa

Council Member Lincoln Restler

Council Member Justin Sanchez

Council Member Kayla Santosuosso

Council Member Pierina Sanchez

Council Member Althea Stevens

Council Member Julie Won

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