New York can't afford tax cuts because revenues would shrink, leaving critical programs begging, they argued. Of course that didn't happen. The opposite did. For several years, New York has been awash in revenues. That's no surprise.
Lower taxes means greater prosperity.
Tax rates are lower, but the number of taxpayers is higher. So revenues grow. Our fiscal health is better, but as the Governor emphasizes, New York has a long way to go. Thankfully, Albany recognizes that. The Governor's new tax-cut plan includes key business tax cuts targeting manufacturers and designed to be especially helpful upstate.