April 19, 2010. This new report details how a temporary bonus tax and other Wall Street measures could ease New York’s budget crisis and fund property tax relief for the most burdened households. Sensible options for closing the state budget gap meet three goals:
- Support rather than undermine the needs of New York families.
- Minimize the negative impact of this year’s budget decisions on the fragile state economy.
- Require the New York financial industry – which bears responsibility for much of the negative impact on the state’s economy and finances since 2007, and which has now realized enormous profits because of the taxpayer-funded bailout – to contribute a fair share to Main Street’s recovery.