Taxes
Richest New Yorkers Face Tax Hike Under Proposed Budget Deal
- Wealthiest NYC residents to see highest combined U.S. tax rate
- Roughly $200 billion budget deal could come as soon as Monday
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The richest New York City residents could soon face the highest combined state and city tax rates in the U.S.
Governor Andrew Cuomo and state lawmakers have reached a tentative agreement to raise taxes on the wealthiest New Yorkers as part of a roughly $200 billion budget deal expected to be announced as early as Monday, according to a person familiar with the negotiations.