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Extreme Mamdani estate tax proposal goes right after New York’s middle class families

Extreme
New York Post Fews App News Provider
Fews App Post Time há 23h

Mayor Zohran Mamdani is floating an extreme new proposal to change the state’s estate tax — a move that would hurt middle-class New Yorkers and their loved ones. The socialist mayor wants to drastically slash the estate tax exemption threshold from the $7 million limit to just $750,000, a drop of more than 90%, according to a memo City Hall recently circulated to Albany lawmakers. The “Tax Revenue Raising Proposals” document is a wish list containing dozens of different tax hikes that could be employed to bail the Big Apple out, according to Bloomberg.

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