For Immediate Release: March 12, 2014
Contact: Ron Deutsch, NYFF 518-469-6769
New Yorkers for Fiscal Fairness Launch Statewide TV Ads
Challenging Governor Cuomo's Tax Cuts for Millionaires and Wall Street Banks
(Albany, N.Y.) New Yorkers for Fiscal Fairness launched a television ad campaign today that takes aim at the Governor's proposed tax cuts for the wealthiest New Yorkers. Our state already has the greatest income inequality in the nation and Governor Cuomo's proposed state budget will make things even worse by giving more than one billion dollars in tax cuts to the wealthiest New Yorkers and cutting local budgets that serve everyone else.
Community leaders all across this state are speaking out against the Governor's tax cut proposals. The Governor's job approval rating has fallen to an all time low as the public begins to understand that the Governor's rhetoric does not match the reality of his proposals.
We felt the need to challenge the Governor's assertion that his tax proposals are the best choice for the majority of New Yorkers. We firmly believe they are not. We need a budget that works for all of us. We hope that as State Leaders begin to negotiate the final budget they will prioritize the needs of our struggling schools, families and communities across the state over millionaires and big banks.
The Governor wants nearly $800 million a year in estate tax cuts that primarily benefit the wealthiest New Yorkers. The bulk of this windfall will go to the state's two hundred wealthiest families--millionaires and billionaires with estates valued at more than $10 million dollars. The Governor's budget proposal also includes a big gift to Wall Street. It gives hundreds of millions in tax cuts to New York's largest and most profitable banks, the very same banks that helped create the fiscal crisis that led to the Great Recession in the first place.
Our schools and communities are suffering after years of austerity budgets and cuts. Teachers have been laid off, and class sizes increased. Now the Governor wants to leave these cuts in place to pay for his tax cuts for millionaires and banks. That's the wrong choice for New York. We just can't afford to give out new tax cuts to Wall Street banks and millionaires. We should use that money instead to fund our schools, rebuild our communities, maintain services for our senior citizens and the poor, invest in our infrastructure and prevent tuition hikes at SUNY and community colleges. Investing in our people is the right growth strategy for New York.
Ads are appearing in most major markets around the state and will run for at least one week.
The ad is being run by New Yorkers for Fiscal Fairness to compliment the efforts of the #NYInequality Campaign.
#NYInequality is a coalition of community, faith, and labor organizations, representing hundreds of thousands of New Yorkers, working together to focus budget priorities at the Capitol on the needs of working families. Instead of budget priorities that only make the rich even richer and widen the equality gap, #NYInequality is pushing for New York to invest in schools, services, and communities: nyinequality.org.