From WSJopinion: New York is bleeding taxpayers and business, so how does Gov. Kathy Hochul open her first legislative year? By proposing to raise taxes some more
Wonder Land: While Republicans and conservatives think the Washington Swamp is real, Democrats and progressives don’t. Whatever your belief it will be an issue in the 2024 presidential election. Images: Getty Images Composite: Mark KellyNew York is bleeding taxpayers and business, so how does Gov. Kathy Hochul open her first legislative year? By proposing to raise taxes some more.
The Governor is directing state officials to develop an economy-wide carbon trading system that will force businesses to pay for their CO2 emissions. This is a stealth tax increase. The state will establish a cap on statewide emissions that will decline over time to reduce emissions to 40% below 1990 levels by 2030 and 85% by 2050. The state will auction allowances to fuel distributors, utilities, manufacturers and other businesses to offset their CO2 emissions.
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