The time is now! Pass legislation to Fund Our Future.
Hi. This is (state your name/where you work(ed)/and your city or town). I am calling to tell you that workers on the front-line need you to pass legislation now to stop the cuts to our schools, hospitals, and other essential services. These workers have done their jobs and much more--we need New York's billionaires and ultra-millionaires to do the same. Can we count on you to Fund Our Future by returning to session and passing the following bills: Senate No. 8164 & Assembly No. 10364 and Senate No. 44 & Assembly No. 4540?
Thank you for your time.
For more information (no need to include this in your phone call):
Governor Cuomo has said that without new revenue, schools, hospitals and local governments of all sizes could face an additional 20 percent cut in funding. This would result in as many as 42,000 teacher layoffs and thousands more in our hospitals. There is another way to Fund Our Future and ensure the survival of our communities:
The ultra-millionaire's tax, as proposed, would create a higher-income tax bracket for incomes above $5 million, $10 million and the top bracket of 10.32 percent for those with an income of over $100 million per year. The proposed top bracket would still be below the current tax rate in both New Jersey (10.75 percent) and California (13.3 percent). It is estimated that these new income tax brackets, which would affect 4 percent of our residents, would generate upwards of $2.7 billion. Furthermore, it should be noted that from 2009, when the millionaire's tax was first enacted, to 2016, the number of millionaires in New York grew by 72 percent and their wealth increased by 54 percent. By comparison, the wealth of non-millionaires had risen by only 33 percent during that same time.
The pied-à-terre tax would add roughly $650 million per year to state coffers. This tax, as proposed, would be an assessment on luxury, non-primary residences in New York City with an assessed value of over $5 million. It is estimated that a mere 2 percent of the city's housing stock would qualify for the pied-à-terre tax.
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