New York State Governor Kathy Hochul has unveiled a comprehensive state budget deal, which includes a highly anticipated pied-à-terre tax targeting wealthy New Yorkers who own luxury apartments in the city. The proposed tax, expected to generate hundreds of millions of dollars in revenue, aims to tackle issues of affordability and inequality in the state's most populous city. As part of the deal, Hochul's administration has also agreed to allocate significant funds towards education, healthcare, and social services. The budget agreement marks a major legislative achievement for Hochul, who has been advocating for a more progressive and equitable approach to taxation in the state.
Hochul announces state budget deal, including NYC pied-à-terre tax NBC New York
