Friend,

 

My top priority is making life easier, safer, and more affordable for New York families.

 

But when our state's tax code includes absurd loopholes and carve-outs for the wealthy, everyday New Yorkers end up paying the price.

Last week, I published a new report identifying questionable, arbitrary and downright ridiculous state tax breaks that cost New York nearly $3 billion in lost revenue while providing no clear public benefit.

Here's just some of what I found:

  • New York forgoes a stunning $601 million in taxes annually by exempting precious metal bullion—think gold bars and coins—from sales tax, as long as the sale exceeds $1,000.

  • New York exempts private jet maintenance from sales tax, even though you and me have to pay sales tax any time we get our cars serviced. 

  • New York loses  millions exempting the purchase of racehorses from sales and compensating use taxes.

  • Tax breaks on charitable deductions for multimillionaires cost the state hundreds of millions of dollars in 2024, at the expense of funding public services that could make such charity unnecessary.

Nothing says "Gilded Age 2.0" quite like giving tax breaks on gold bars at the same time that child poverty is rising.

Instead of tax breaks for the 1%, this money could fund proposals like my Working Families Tax Credit, which gives families up to $1,600 per child to pay for essentials like groceries, rent and clothing. My plan would cut child poverty nearly 17% and increase incomes for millions of New Yorkers.

With Trump wreaking havoc and slashing services in Washington, it's more important than ever that New York passes a state budget that puts families first. That's why I've also announced new proposals to ensure millionaires and corporations pay their fair share, so we can invest in childcare, education and housing.

New Yorkers have made it clear: the status quo isn't working. It's time to build a tax code that works for all of us, not just those at the top.

 

- Andrew

 

 

 

Andrew for New York

725 70th Street, Apt C1

Brooklyn, New York 11228

 

 

If you believe you received this message in error or wish to no longer receive email from us, you can unsubscribe at any time by clicking here to unsubscribe.