Working families across New York and in the Capital Region are doing everything right, and still falling behind.
Rent keeps rising. Utilities stretch paychecks to the brink, threatening to shutter countless small businesses. Our groceries and gas bills rise due to price gouging and the reckless policies coming out of the White House. And for too many families, child care alone costs more than $22,000 a year per child.
That’s not sustainable. And it’s not accidental.
While working families are struggling, New York’s ultra-wealthy and largest corporations enjoy historic tax advantages, especially after the passage of Trump’s “Big Beautiful Bill.” They are paying a smaller share of their incomes than the working families who helped generate their wealth.
So the question isn’t whether we have the resources to fix this crisis. It’s whether those in power are willing to act.
The truth is simple: If we increase taxes on the wealthiest New Yorkers, we can build a state that working-class people can actually afford.
When we tax the richest residents fairly, we can reinvest in programs that benefit everyone. That means fully funding universal child care across the state so no parent is forced out of the workforce; investing in truly affordable housing so families aren’t pushed out of their
communities; and protecting health care and food assistance programs at a time when federal cuts are ripping them away.
If we fail to act, the consequences are real. President Donald Trump and Republicans in Washington are showing no mercy on the American people. Cuts to Medicaid, food assistance and health care subsidies put millions of New Yorkers at risk of losing care or going hungry. All just to give New York’s richest $12 billion in tax cuts.
Fortunately, the state Legislature has a clear path to raise over $32 billion annually by
requiring the wealthiest New Yorkers and most profitable corporations to finally pay their fair
share. This includes creating new tax brackets for millionaires and billionaires, increasing taxes
on large corporations and fixing a tax system that asks too little of those at the very top.
These proposals and more are the key to expanding universal child care across the state and essential services that working families depend on – opening the door for a new era of improvement, restoration and opportunity for working-class New Yorkers.
Some may suggest, with outdated data and a fearful mindset, that the wealthiest New Yorkers will leave the state if we increase their taxes. However, wealthy individuals and business owners want to be here, and they are not leaving. The greater threat we face is workers leaving the state because they simply can’t afford to live here.
More recent data collected by the Fiscal Policy Institute show that low- to moderate-income
earners are leaving the state at the highest rates, while outmigration among top earners has essentially remained stagnant.
When communities are hollowed out, everyone pays the price. You may not use Medicaid, or child care, or food assistance services, but your neighbor might, and someday you might, too. These services are the backbone that keep our neighborhoods strong. When working families leave the state in droves, the resulting loss of revenue ripples across communities and industries alike.
I speak with working people everyday, and their message is clear: New Yorkers aren’t asking for small fixes around the edges. People want to be able to afford to live here, raise their families here and build a future here with dignity. They want a guarantee that child care won’t exceed a paycheck, that housing costs won’t consume their income and that health care won’t bankrupt them.
Asking the wealthy to pay their fair share isn’t radical. It’s responsible. It prioritizes working families, making the future we dream of a reality. We have waited long enough – if we fail to act, who are we really protecting? Who benefits?
Workers uphold their end of the bargain by showing up and making New York one of the richest states in the nation. It’s time for those that have the means – the top 1% of earners – to uphold their end of the bargain, too, and pay their fair share to ensure that all New Yorkers can live and thrive in this great state together.
