Updated: September 17, 2020 04:46 AM
Created: September 17, 2020 04:22 AM
ROCHESTER, N.Y. (WHEC) — Gov. Andrew Cuomo is walking back comments that he would raise taxes on the wealthy if states don't get federal funding.
Last week, Cuomo threatened the tax hike claiming state governments need a lot of aid after being hit hard by COVID-19. However, now he's saying if he were to raise taxes it would, "put the state at a competitive disadvantage."
New York budget officials estimate $59 billion is needed over the next two years to close budget gaps at the state and local level.
Both State Assembly and Senate Democratic leaders support tax increases on the wealthy.
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