A strong majority of New Yorkers support raising taxes on wealthy earners and profitable corporations to fund public programs, according to a new poll commissioned by Invest in Our New York Campaign and conducted by Siena College that was released Friday.

The poll found 74% of state residents believe taxes should go up for the highest 5% of earners. About the same percentage of respondents, and 72% of upstate residents, believe raising taxes on the rich should be the solution to address any state budget shortfall rather than cutting services, according to the poll.

In addition, 64% of people, including 79% of Democrats, said they would favor a political candidate who supported raising taxes while 27% said they would favor a candidate who supported cutting spending to control state spending.

"Working-class New Yorkers, the people who wake up each day to strive for a better future for themselves and their families, continue to be the victims of budget cuts and diminished state resources. In the meantime, the ultra-rich continue to accumulate wealth. If our leaders do not intervene, the affordability crisis in New York will only get worse,” said Carolyn Martinez-Class, campaign manager at Invest In Our New York. “This poll affirms that most New Yorkers agree: it is high time that the wealthiest among us pay their fair share of taxes to ensure a thriving, equitable environment for everyone. Governor Hochul and our legislative leaders must answer the call of their constituents and include common-sense policies in the 2024 budget that raise taxes on the ultra-rich and invest in our communities.” 

The Invest in Our New York Campaign is an organization that advocates for a more economically equitable state and for increasing taxes on New York’s wealthiest and big corporations.

"While 49% agree that tax increases will result in millionaire flight and nearly as many believe increasing taxes will hurt rather than help the economy, of those with these concerns, a majority still support higher taxes on the highest earners," said Don Levy, director of the Siena College Research Institute.

The poll comes as a projected $4.3 billion budget deficit hangs over elected officials as they wait for the details of Gov. Kathy Hochul's annual State of the State and budget addresses this month.

Hochul has said in recent months the state will not further increase taxes on the wealthy, or New York's millionaires and billionaires, to raise revenue — backed by the state comptroller and state's fiscal watchdog the Citizens Budget Commission.

But a growing number of Democrats who control the state Legislature, including Assembly Speaker Carl Heastie, say they won't back down in pushing for New York's highest income earners to pay higher taxes and help the state provide necessary services.


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