Tax Freedom Day Lags Behind For New Yorkers Yet Again
Tax Freedom Day, calculated by the Tax Foundation, is the day when state residents have officially earned enough to fulfill their federal and state tax obligations, and often is a good indicator of the tax climate in the state. New York was one of the last states to reach its Tax Freedom Day and ranked 48th, ahead of only New Jersey and Connecticut. Assemblyman Anthony Palumbo (R,C,I,Ref-New Suffolk) today expressed his disappointment of New York’s abysmal Tax Freedom Day Ranking.
“It’s extremely disheartening to again this year see the Tax Foundation rank New York among the worst,” said Palumbo. “New York is one of the most heavily taxed states in the country, and because of this we are losing young professionals and businesses at an astronomical rate. We need to reevaluate the tax and spend ideology that the governor and the Assembly Majority have pushed on New Yorkers and work to cut unnecessary spending. The time to take action is now.”