Earlier this week a study was released that showed the state has lost over $4 billion in tax revenue due to the 1.5 million New Yorkers who have recently moved out of state, fleeing the excessive and broken tax system.
For years, I have been urging the leaders in both houses to take action on reforming the property tax system and stemming uncontrolled spending at state and local levels, which residents can no longer afford. However, the solution every year, from the Executive Branch and legislative leaders, has been to increase spending and increase taxes.
It is encouraging that the Governor is stepping up his efforts to curb spending and fix the system.
Now that the Governor has announced his plan, I hope he will use his influence with the other downstate leaders in order to ensure real action is taken to curb state spending and provide property tax relief, either during the Special Session in November, or before.
New Yorkers can no longer wait for Albany to play politics with their dollars, homes and lives. Too much is at stake.