NEW YORK -- More than four dozen New York millionaires have signed a letter to state lawmakers with a proposal to help the state recover from the economic impact of the pandemic: tax the rich.

The COVID pandemic has cost millions of New Yorkers their jobs and will leave an estimated $63 billion gap in the state budget over the next four years.

In their letter, the millionaires say the state should enact the taxes that are part of the proposed Invest in Our New York Act.

Mike Lapham, director of the Responsible Wealth project at United for a Fair Economy, said raising taxes on high incomes, billionaires, large inheritances, corporations, stock sales and capital gains could close that gap.

"The whole package could be as much as $50 billion a year," Lapham asserted. "It's not likely that they'll all get passed, but there's a lot of money there that could help the state and that wealthy people can afford to pay."

Some lawmakers claim if taxes are raised on the rich, they would move to a state with lower taxes, but Responsible Wealth said studies have shown that's not true.

Lapham pointed out since New York increased taxes on the rich in 2009, the number of millionaires who call the state home has actually risen by more than 60%.

"The reality is if you have a business, if you have a whole community, if you have been living in this state for years, you're not going to just up and move to some other state because your taxes go up by a few thousand dollars a year," Lapham contended.

In their letter to lawmakers, the millionaires said in fact they are the least likely to move because their taxes go up.

Lapham noted a one-time infusion of federal cash can't fix the state's long-term economic problems, but the wealthiest state residents have a vested interest in raising the standard of living for all New Yorkers.

"They are profoundly interested in having a healthy state to live in and having the state invest in things like public education, transportation and infrastructure," Lapham observed.

He added taxing those who can afford to pay will not only fill the budget gap, but reverse decades of growing economic inequality and make New York a state that works for everyone.


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RICHMOND, Va. - Virginia's General Assembly Special Session begins today to budget more than $4 billion in federal COVID relief funds, and advocates for low-income families are urging the money be targeted for those hit hardest by the pandemic.

Kim Bobo, executive director of the Virginia Interfaith Center for Public Policy, said she thinks it's fine that lawmakers have promised more than $350 million to support businesses and long-term infrastructure projects, like sewer systems.

But she also said she sees a need for equitable investment for working-class families, which so far is missing from the budget proposal. Bobo said it's especially important to help with evictions, since many landlords are refusing to take rental-assistance dollars.

"We need budget language that would require landlords to take the rental assistance before trying to evict tenants for nonpayment of rent," said Bobo. "Because we are very worried that there's going to be a huge number of evictions."

Officials from Gov. Ralph Northam's administration formed the budget bill with only Democratic lawmakers, causing an outcry from House Republicans, who say the budget process should be more transparent when deciding how to spend such a large amount of money.

Bobo said she agrees, noting there also have been no community hearings for public input - which could have helped allot more money for priorities like restocking food banks.

She said legislators have been told they can't make any budget amendments, and the governor didn't release the full budget until this past Friday.

"The result right now is that a year ago, there was a huge amount of talk about justice and equity," said Bobo. "And now, we have an opportunity to focus our dollars on low-income people - on people of color, on folks who've been marginalized - and the budget does not do that."

She added the American Rescue Plan budget calls for spending on a range of initiatives, from increasing broadband access to paying for air-quality improvements in public schools.

But she said she thinks those dollars might be better spent helping families pay for their own broadband access or computer equipment. And the money for schools requires one-to-one matching, which is more difficult for low-income communities.

CONCORD, N.H. - New polling finds many New Hampshire voters think it's important that wealthy individuals and corporations pay what's described as their "fair share" of taxes.

President Joe Biden's economic proposals include several tax code changes for only the highest-income Americans, many of whom now pay little or no tax.

The proposals would raise corporate taxes, raise income taxes on people making more than $400,000 a year, and tax capital gains at the same rate as income for high earners.

Maggie Fogarty, program director with American Friends Service Committee in New Hampshire, said investments are needed in affordable childcare, renewable energy, access to healthcare, housing and more.

"It's long past time for us to end these corporate tax giveaways and the loopholes for the wealthy," said Fogarty, "so that we can shift our focus to investing in community well-being."

More than 60% of New Hampshire voters polled by Granite State Progress and Americans for Tax Fairness support the changes to help fund Biden's "Build Back Better" economic plans, and more than 70% support proposals to establish a wealth tax, or tax on assets.

State Sen. Becky Whitley - D-Concord - said many of her constituents are benefiting from funds distributed as part of the American Rescue Plan, including the Child Tax Credit advance payments.

Whitley said she thinks it's clear that economic relief is working, but says more is needed - and the current tax code isn't sustainable for working people.

"We also have an opportunity to make health care, long-term care for older folks, child care, college, housing and many other services more affordable for working people," said Whitley, "and expand Child Tax Credits for most families."

The poll also found unaffiliated voters, meaning those not associated with either the Republican or Democratic parties, were more likely than voters overall to support these progressive tax measures.

SACRAMENTO, Calif. -- Huge new aid programs are beating back poverty in the Golden State, especially among families with children.

Gov. Gavin Newsom just signed a raft of budget bills, that included another $640 by the end of the month for CalWORKS families, on top of the $600 payments already sent to those in the CalWORKS and Supplemental Security Income programs, and three rounds of federal stimulus payments.

Mike Herald, director of policy advocacy for the Western Center on Law and Poverty, said the supports are a boost to parents who lost jobs during the pandemic.

"We are really lifting up a lot of low-income families," Herald remarked. "They're getting real financial assistance in the $5,000-$7,000 range, and really, believe me, it's going to make a big difference in people's lives."

The California Comeback Plan, as Newsom calls it, also puts $5.2 billion toward rental assistance, so families can apply to get all their back rent paid, and even get a few months ahead.

Last week, parents started receiving payments of up to $300 a month per child, as part of the Biden administration's expanded federal Child Tax Credit.

Herald said because funds are going out monthly, instead of all coming at tax time, it is a game changer.

"This will help to really provide more financial stability," Herald asserted. "They're going to have more money every month in their accounts, to be able to pay bills and put food on the table. And this is something that advocates have wanted for a long time."

And the help for children doesn't stop there. California has also added 100,000 new slots to the state-funded childcare program and raised what it pays child-care operators, to encourage more of them to reopen as the pandemic subsides. The budget also includes a significant funding increase for K-through-12 schools.