NY Gov. Kathy Hochul proposes a wealth tax on pied-à-terres in major u-turn
Kathy Hochul, who has long resisted calls to significantly increase taxes on the state's wealthiest residents, is now proposing a compromise: a new levy on multimillion-dollar second homes in New York City. The moderate Democrat's plan, announced Wednesday, would empower New York City to impose a tax surcharge on secondary residences valued over $5 million, know as pied-à-terres. Despite her stance, progressive activists have persistently chanted "tax the rich" at her public appearances, even...
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