A prominent business group is stepping up its efforts to stop tax hikes on corporations and the wealthy in this year’s state budget — while keeping key information about its funding secret.
The Partnership for New York City raised $10 million in “seed” money last year for its political arm, its new president and CEO, Steven Fulop, said on X earlier this year. Fulop told the Wall Street Journal last week that the political arm plans to run ads opposing tax increases. “If you believe that something is detrimental to the economic well-being of New York City, you need to be vocal about it,” Fulop said.
The state budget was due at midnight on Tuesday, but Albany leaders have so far been unable to strike an agreement, and taxes are among the biggest sticking points. The legislature and New York City Mayor Zohran Mamdani have pushed for billions of dollars in tax hikes. Governor Kathy Hochul has ruled out an income tax hike on high-earners, though she has left the door more open to raising corporate taxes…