Adams Wants to Eliminate Income Tax for Some New Yorkers

Mayor Eric Adams on Dec. 4 unveiled a proposal to reduce or eliminate New York City income taxes for some low-income families, according to NY1.

The plan, called Axe the Tax for the Working Class, would eliminate the tax for taxpayers whose dependents live at or below 150% of the federal poverty line, he said. Adams at a press conference. The plan would gradually eliminate the tax for taxpayers living within $5000 of that threshold.

The plan would eliminate the tax for more than 429 New Yorkers and reduce the tax for more than 000. It would return more than $150 million to city residents.

On the subject: City programs that help immigrants find work in New York

"People don't have enough money for everything from child care to food and school supplies. In many areas, the struggle to survive continues," he noted. Adams“We can’t lower the price of bread, but we can give you some bread to help you pay your bills and essentials.”

The maximum annual family income at 150% of the federal poverty line is:

• $31 – for one adult and one child;
• $36 – for one adult and two children;
• $36 – for two adults and one child;
• $46 – for two adults and two children.

Adams said he would push for the proposal to be included in New York's fiscal 2026 budget. If passed, it could go into effect by the 2025 tax filing season.

Adams said New York State Senator Leroy Comrie and New York State Assembly Member Rodney Bichotte Hermelin plan to introduce the proposal during the upcoming legislative session.