250 CEOs express ‘alarm’ over New York tax hike

A group of 250 CEOs and business leaders sent a letter to New York’s governor and legislators expressing “alarm” at what they say could become the largest spending and tax increase in the state’s history.

A group of 250 CEOs and business leaders sent a letter to New York’s governor and legislators expressing “alarm” at what they say could become the largest spending and tax increase in the state’s history.

The letter, delivered to Gov. Andrew Cuomo and Democratic members of the state Assembly and Senate, urged politicians to postpone any tax increases until after the state and New York City have more fully recovered from the ongoing coronavirus pandemic.

“Only about 10% of our colleagues are in the office and prospects for the future of a dense urban workplace are uncertain,” the letter said. “Many members of our workforce have resettled their families in other locations, generally with far lower taxes than New York, and the proposed tax increases will make it harder to get them to return.”