"New York must tax the rich to offset coming federal cuts, according to New York City's largest homeless shelter provider. In a new report on the rising risk of family homelessness, the shelter nonprofit Win said raising taxes on the top 1% of earners is "morally and fiscally imperative" to insulate the state from federal safety net cuts that could push more people into homelessness."
"The unpopular bill pairs cuts and new eligibility requirements for social programs with extended tax relief for the wealthy and increased border security spending. It's projected to add $3.4 trillion to the national deficit in the next decade, The Wall Street Journal reported. The legislation jeopardizes $15.4 billion in funding for Medicaid and the Supplemental Nutrition Assistance Program in New York, according to Win."
Win, New York City's largest homeless shelter provider, recommends raising taxes on the top 1% as a moral and fiscal necessity to protect families from federal safety net cuts. The recommendation follows analysis of the One Big Beautiful Bill Act, which pairs benefit cuts and eligibility changes with tax relief for the wealthy and border spending, and is projected to add $3.4 trillion to the deficit. Win warns the law jeopardizes $15.4 billion for Medicaid and SNAP in New York, risking 1.5 million losing health coverage and 281,000 losing food assistance. Additional proposed federal cuts to HUD and rental programs could cost New York $4.5 billion supporting one million residents.
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