Mayor Eric Adams has achieved Monday at the last minute to reduce income taxes for New York residents with low incomes as part of the next country's budget.
The “Ax The Tax” proposal from HIZZONER will cancel the New York City Personal Income Tax for employees with at least one living in or less than 150 % of the Federal Poverty line.
The city hall said that would be $ 36,789 annually for a family of three people from two adults and one child, and $ 4,350 for a four -person family with two adults and two children.
Adams said: “If there is one thing that the New York residents can agree on, it is that the cost of living in this city is very high, especially for the New York residents of the working class. Rent, food, gas, child care, cable-adding, which is too much,” Adams said.
“I think the New York residents want money in their pockets and I think this is everything we can agree on.”
City Hall said the Adams plan, which he first put forward in December, could affect about 429,000 New York residents, and give low -income families $ 350 on average of taxes.
Adams asked Cathy Hochol's governor to include paying his ability to withstand costs as part of his state budget plan for the fiscal year 2026.
The mayor needs Albani's approval to change taxes at the city level.
Hochul and the state’s legislator are scheduled to explode the deadline for a budget on Tuesday, as negotiations have reached a dilemma due to divisional discovery laws in New York and the obligation of the involuntary ruler.
