Economy

Our economy should work for everyday New Yorkers, not billionaires. That’s why I’m fighting to:

  • Tax the rich. The Invest in Our New York Act would raise $40 billion from the wealthiest people and corporations in our state to fund housing, education, childcare, and more for everyone. This legislative package would include:
    • A corporate tax on profits over $2.5 million a year.
    • A progressive income tax on the wealthiest 5% of New Yorkers.
    • A capital gains tax to close loopholes that allow income from stocks and other investments over $500,000 a year to go untaxed.
    • An inheritance tax to replace the current broken system that allows massive inheritances to go almost completely untaxed.
    • A billionaires tax on their profits from stocks and other investments.

 

  • Raise the minimum wage to at least $25 an hour. The upstate minimum wage will only reach $16 an hour by 2026. That’s an entire dollar less than New York City’s minimum wage and doesn’t account for the last few years of inflation. It’s time to raise New York’s minimum wage to $25 an hour. Or—at a minimum—we should pass the Raise the Wage Act, which would raise the minimum wage to $21.25 an hour by 2026.

 

  • Create a public bank. We can’t allow Wall Street to have a monopoly on safeguarding our savings. The New York Public Banking Act would allow municipal and local governments to form their own public banks.

Compare to Didi Barrett’s record:

During her decade in office, multi-millionaire Barrett has prioritized her own wealth and the wealth of the top 1% by: