NEW YORK (Sputnik) — The mayor argued imposing additional local and state taxes on individuals and households whose net worth is expressed in millions of dollars would tackle widespread income inequality.
"We also know that the wealthiest among us have every reason to expect a major new tax break at the federal level given the proposals already put forward by President Trump and Congress," de Blasio stated. "We think in light of [that fact] it’s time that they pay their share of the state and local taxes. So I join the Senate Assembly majority’s push to extend and deepen the millionaire’s tax."
Potential federal cuts to existing public services, de Blasio also claimed, may significantly impair the budgets of New York State and respectively New York City, especially if the US congress repeals the Affordable Care Act, also known as Obamacare.
