The “Invest in Our NY” coalition is comprised over 100 statewide organizations looking to persuade lawmakers to pass six bills that would raise over $50 billion in new revenue in 2021.
“This is actually a fiscally wise approach to budgeting,” campaign manager Rebecca Bailin told Capital Tonight. “This is a common sense series of legislation that actually ends tax breaks for the wealthy.”
The six bills would raise taxes on income, wealth, Wall Street transactions and corporations.
One key difference between this campaign and others like it in the past is both the size of the tax increases, $50 billion, and that all the revenue is slated to go into the general fund, rather than being earmarked for special interests.
“The need is massive,” Bailin said. “Spending cuts won’t save us and bring us to recovery but these revenue raisers will. We hope Governor Cuomo will act.”