Gov. Hochul tells NY biz leaders I want you to stay here as she promises not to raise income taxes in 2025

Gov.Kathy Hochul is promising not to raise income taxes on New Yorkers next year – saying she doesn’t want more businesses to flee the state.The Democrat, who infuriated the lefty wing of her party by refusing to raise income taxes in this year’s state budget, said Friday she wants to keep holding the line in 2025.“I’m not raising income taxes,” Hochul told a room full of bigwigs at the Business Council of New York State’s annual meeting at the swanky Sagamore Resort in Lake George.“I want you to stay here and I want you to grow.

I want you to be successful,” she said.“That is my promise to all of you.”Single New Yorkers currently making between roughly $14,000 to $215,000 have their income taxed at 5.5-6%.

The state’s highest earners making over $25 million a year pay 10.9%.“The governor continues to be right that New York should not raise its already highest-in-the-nation personal income taxes,” Patrick Orecki, director of State Studies at the Citizens Budget Commission, wrote in a statement to The Post.“Our high taxes do make us less competitive, and the state really should be actively restraining spending growth to let the current temporary surcharge expire,” he said.Progressive groups, however, slammed Hochul over the promise.“Asking the ultra-wealthy to pay a little more in taxes allows our state to make much-needed investments in our communities.We hope the governor will stand with working families and New Yorkers struggling with the high cost of basic necessities like rent, food prices, and childcare,” said Jasmine Gripper, co-director of the New York Working Families Party.Hochul’s vow came as she prepared to face a massive dilemma, along with the state Legislature, over how to fund the MTA’s next five-year capital program.

Metropolitan Transportation Authority CEO Janno Lieber this week asked for a whopping $68.4 billion for the agency’s 2025-2029 capital plan — the largest such request in the transit agency�...