Cuomo blames federal tax law for $2.3 billion New York budget deficit
Trump's 2017 act was not the sole cause of New York's budget fiasco, Cuomo said. He added that the stock market drop in December may have had an impact, and also struck a blow to the bonuses given to Wall Street traders, which adds a considerable amount to the state's annual tax collections. Cuomo warned against imposing increased taxes on the wealthy in New York as a solution, which is already home to the nation's second-highest taxes on millionaires, according to North Country Public Radio.
“This is the flip side," Cuomo said. "Tax the rich, tax the rich, tax the rich. The rich leave, and now what do you do?”...