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Top-earning New Yorkers could pay 14.7% income tax, the highest in the US, under new proposals from Cuomo

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New York City’s top earners may soon face the highest income tax rates in the country if the White House doesn’t help the state recover from its $15 billion deficit, Gov. Andrew Cuomo has warned.

As part of a 2022 budget proposal announced Tuesday, Cuomo said he may have to raise taxes to 10.86% for the state’s wealthiest earners. On top of local taxes, this could leave some residents paying 14.7% income tax, he said.

In an address, Cuomo called for the federal government to provide New York with $15 billion in emergency pandemic relief.

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