{"id":300317,"date":"2021-03-24T12:45:38","date_gmt":"2021-03-24T16:45:38","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=300317"},"modified":"2021-03-24T12:45:43","modified_gmt":"2021-03-24T16:45:43","slug":"new-york-city-business-leaders-ask-officials-not-to-raise-taxes-as-city-recovers-from-pandemic","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-york-city-business-leaders-ask-officials-not-to-raise-taxes-as-city-recovers-from-pandemic\/","title":{"rendered":"New York City Business Leaders Ask Officials Not To Raise Taxes As City Recovers From Pandemic"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnew-york-city-business-leaders-ask-officials-not-to-raise-taxes-as-city-recovers-from-pandemic%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=300317&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/03\/fb_image-3179.jpeg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p>In an open <a href=\"https:\/\/pfnyc.org\/news\/250-of-nys-large-employers-and-small-business-leaders-challenge-need-for-state-tax-increases\/\">letter<\/a> to New York City officials on Tuesday, a group of 250 business leaders asked the city not to raise taxes as they struggle to get back on its feet after over a year of economic hardships from the pandemic.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"6.8048780487805\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udce8 Today 250 large employers and small business leaders issued a letter to state lawmakers re increases in taxes and spending. Full letter: <a href=\"https:\/\/t.co\/XdRpyFLCpx\">https:\/\/t.co\/XdRpyFLCpx<\/a> <a href=\"https:\/\/t.co\/kcVZub8RVr\">https:\/\/t.co\/kcVZub8RVr<\/a><\/p>\n<p>\u2014 Partnership for NYC (@Partnership4NYC) <a href=\"https:\/\/twitter.com\/Partnership4NYC\/status\/1374335960092131328?ref_src=twsrc%5Etfw\">March 23, 2021<\/a><\/p>\n<\/blockquote>\n<p>The letter is addressed to Democratic Governor Andrew Cuomo, Leader Andrea Stewart-Cousins and Speaker Carl Heastie, telling the government officials that the leaders felt the need \u201cto express alarm at plans to enact the largest spending and tax increases in the state\u2019s history.\u201d<\/p>\n<p>The leaders add that the \u201ccurrent budget proposals\u201d will make it more difficult for New York to recover from the devastating economic impact caused by the coronavirus pandemic over the past year.<\/p>\n<p><a href=\"https:\/\/www.reuters.com\/article\/us-usa-new-york-taxation-idUSKBN2BF2K8\">Reuters<\/a> reports, \u201cNew York\u2019s fiscal year 2022 budget projects a $37 billion revenue loss over four years due to the pandemic. Budget plans have called for raising $1.54 billion and $1.4 billion in the next two fiscal years on taxable income greater than $5 million.\u201d<\/p>\n<p>The letter states,<\/p>\n<blockquote readability=\"21\">\n<p><em>The American Rescue Plan, for which most of us advocated, is providing $1.9 trillion in federal funding to eliminate the need for new state and local taxes this year. Once we are on a path toward restoring more than one million jobs and thousands of small businesses that New York has lost in the past twelve months, there may well be need to raise new revenues to fill the gaps in our education, health and social welfare systems.<\/em><\/p>\n<p><em>At this moment, however, significant corporate and individual tax increases will make it far more difficult to restart the economic engine and reassemble the deep and diverse talent pool that makes New York the greatest city in the world. We are not alone in this view; among others, the nonpartisan Citizens Budget Commission has said these tax increases are \u201cboth unnecessary and economically risky,\u201d thanks to federal aid and higher than expected tax receipts in 2020.<\/em><\/p>\n<\/blockquote>\n<p>The business leaders add that the pandemic has shown that people can work from anywhere, and increasing taxes in New York will make it more difficult to bring employees back to New York who have relocated elsewhere over the past year.<\/p>\n<p>\u201cThis is not about companies threatening to leave the state; this is simply about our people voting with their feet,\u201d the letter continues, stating that new taxes could lead to companies moving their businesses to other states \u201cwhere the talent wants to live and work.\u201d The leaders use the example of the 1970s when half of the city\u2019s Fortune 500 companies left New York \u201cand it took thirty years to recover.\u201d<\/p>\n<p>The letter continues, stating that the coronavirus pandemic \u201chas also put a spotlight on the inequitable condition of Black and Latinx communities, low-wage workers and immigrant populations who were struggling to survive in our high-cost cities in the best of times but have been ravaged during the past year. We understand your need to respond to these urgent human needs and we will continue to support these efforts through expansion of partnerships for education and workforce development, hiring and small business assistance.\u201d<\/p>\n<p>The leaders make the point that COVID-19 has likely affected the region in ways that are not fully known yet, adding that \u201ca healthy state economy\u201d needs government and businesses to be able to work together.<\/p>\n<p>The letter closes with the plea for government leaders to \u201chold off on major tax and spending changes\u201d until the coronavirus pandemic is in the past \u201cand the path to recovery is better defined.\u201d<\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a<\/span><\/i> <a href=\"https:\/\/www.dailywire.com\/subscribe\"><span>member<\/span><\/a><span>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In an open letter to New York City officials on Tuesday, a group of 250 business leaders asked the city not to raise taxes as they struggle to get back &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2311065,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/03\/fb_image-3179.jpeg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"New York City Business Leaders Ask Officials Not To Raise Taxes As City Recovers From Pandemic","footnotes":""},"categories":[],"tags":[],"class_list":["post-300317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/03\/fb_image-3179.jpeg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"New York City Business Leaders Ask Officials Not To Raise Taxes As City Recovers From Pandemic","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/300317","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=300317"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/300317\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2311065"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=300317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=300317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=300317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}