Opinion: Millionaires must pay their fair share to ensure NYC’s affordability
By John Liu and Phara Souffrant Forrest
the Fair Share Act, legislation we introduced... would authorize New York City to enact a modest 2% surcharge on incomes over $1 million.
It’s entirely fair and appropriate to ask the highest income earners, who just received a permanent 2.6% tax cut courtesy of President Donald Trump, to help generate the revenue needed to strengthen our economy and not leave working New Yorkers behind. This is, quite literally, a matter of fairness and fiscal responsibility.
As it stands, raising taxes on NYC millionaires must happen at the state level.
Governor Kathy Hochul doesn't want to raise taxes on millionaires. Fair enough. But the state legislature should authorize NYC to do so. #MayorMamdani has given them ample warning.
