Senator Gianaris and AM Dinowitz Call for NY to End Trump Opportunity Zone Tax Break in Budget
Senator Gianaris and AM Dinowitz Call for New York to End Trump Opportunity Zone Tax Break in Budget
Times Union Op-Ed Highlights $424 Million/Year Cost to State Mirroring Trump Program
Times Union Op-Ed Highlights $424 Million/Year Cost to State Mirroring Trump Program
Today, Senator Gianaris and Assemblymember Dinowitz published an op-ed in the Times Union calling for New York to end its tax break for Trump’s Opportunity Zone program in the budget.
The op-ed highlights projections showing New York’s decoupling from the Trump-created program will save the State $284 million/year and New York City $140 million/year starting in 2029. This is almost as much as the proposed pied-à-terre tax will raise.
The bill currently has 41 co-sponsors in the Assembly and 11 in the Senate. We urge all legislators to co-sponsor the standalone bill and make sure it passes in the budget.