Fear of exodus over $4B in tax hikes as New York hammers out budget deal

Gov. Andrew Cuomo and state legislators were poised Monday night to impose $4 billion in new taxes as they tried to hammer out the final details of New York’s s overdue, roughly $200 billion budget. 

The key issues separating the sides — who’ve blown past an April 1 budget deadline — included a plan to legalize sports betting and whether to dole out benefits to illegal immigrants and ex-cons.  But lawmakers appeared ready to wallop New York’s higher earners and big businesses with an array of new taxes — despite a $12.6 billion infusion of cash from President Biden’s $1.9 trillion COVID-19 stimulus measure that US Senate Majority Leader Chuck Schumer (D-NY) has said is enough to balance the budget.