The progressive Fiscal Policy Institute on Tuesday released its economic plan that called for higher taxes on the rich and an expansion of family tax credits.
The group also backed increasing aid to municipalities as a way of reducing property taxes on the local level and creating a property tax circuit breaker.
At the same time, the plan backed closing tax loopholes that benefit upper income earners.
“The future is in our hands—we can do nothing and continue to let inequity increase, let basic needs go unanswered and try to balance the budget on the backs of those who are already struggling or we can take the steps necessary to build a better future for all New Yorkers,” said the group’s executive director, Ron Deutsch.
“The burden must be fairly shared. Our taxes fund essential services, including our schools, infrastructure, and the programs relied on by our seniors, children, and people with disabilities – principally, all the things that make a vibrant, healthy community where people wish to live.”
The full plan can be found here.
The state faces a $6.1 billion budget gap. Gov. Andrew Cuomo is scheduled to deliver his 2020 State of the State address on Wednesday in Albany.