NYC Mayor Adams makes last-minute push to cut taxes for low-income earners as Albany haggles over budget

Mayor Eric Adams on Monday made a last minute to cut income taxes for low-income New Yorkers as part of the upcoming state budget.Hizzoner’s “Axe the Tax” proposal would scrap New York City personal income tax for filers with at least one dependent living at or below 150% of the federal poverty line.That would be $36,789 per year for a family of three made up of two adults and one child, and $46,350 for a family of four with two adults and two kids, City Hall said.“If there is one thing New Yorkers can agree on, it’s that the cost of living in this city is too damn high, especially for working-class New Yorkers.

Rent, food, gas, child care, cable — it adds up, and it’s too much,” Adams said.“I think New Yorkers want money back in their pockets and I think that’s all something we can agree on.”Adams’ plan, which he first rolled out in December, could affect some 429,000 New Yorkers, and give low-income families an average of $350 back in taxes, City Hall said.Adams asked Gov.

Kathy Hochul to include his affordability push as part of her state budget plan for the 2026 fiscal year.The mayor needs approval from Albany to change taxes at the city level.Hochul and state lawmakers are set to blow Tuesday’s budget deadline as negotiations have hit an impasse over New York’s divisive discovery laws and the governor’s involuntary commitment push....