Governor Andrew Cuomo suggested that tax hikes on the wealthy were still “on the table” as New York state grapples with the pandemic-induced budget crisis.
Even with the $1.9 trillion federal aid package allocating billions for states and nearly $12.6 billion allocated to New York, the state is still struggling to patch the budget, Pix 11 reported.
“Don’t get me wrong, the $12.5 billion is very, very helpful,” Cuomo said in a press call on Sunday. “We needed $15 billion in my opinion, so we do have a gap there and tax increases are on the table.”
New York lawmakers have to pass the 2021-2022 budget by April 1st.
“It means it is now a possible budget, not an easy budget,” Cuomo said. “Why? You still have tremendous needs that COVID created. Rent needs, assistance needs, daycare needs, job and employment needs, so you have tremendous needs.”
The relief package has passed the Senate, and was sent back to the House, were it is widely agreed it will be passed smoothly, and President Joe Biden will sign it in to law this week or the next.
Individuals making $75,000 or less and couples making $150,000 or less will be eligible for $1,400 stimulus checks.