Nassau Republicans, business leaders react to possible corporate tax rate increase
New York City Mayor-elect Zohran Mamdani has floated the idea of increasing the rate from around 7% to over 11% to fund programs.
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Nassau County Republicans, business leaders and local organizations are voicing opposition to potential plans to raise the state’s corporate tax rate.
New York City Mayor-elect Zohran Mamdani has floated the idea of increasing the rate from around 7% to over 11% to fund programs.
Multiple reports say Gov. Kathy Hochul is willing to consider the idea. However, some believe this will send the wrong message.
“We all share the same objectives. We want a strong economy. We want to create jobs; we want a more affordable place to live. But we can’t do that if we keep sending a message to the business community that they're not welcome here,” said Long Island Association President Matt Cohen.
News 12 reached out to Hochul’s office, but they didn’t provide comments on the topic.
