Cuomo announces NY income tax receipts have dropped by $2.6 billion – NY Post

Comment: That $2.6 billion is for December and January. "The loss of revenue from New York’s wealthiest puts New York in a bind because the state relies on a progressive income tax system that taxes the rich at a higher rate," says the article. Cuomo blamed it on loss of SALT deductions and the stock market, but also flight of wealthy taxpayers. Illinois income tax receipt have improved significantly this fiscal year, though they were off substantially in January.

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