Join Strong For All, PSC-CUNY, VOCAL-NY, NYCC, CWA District 1, the New York State Nurses Association, the National Employment Law Project, the Roosevelt Institute and the Fiscal Policy Institute this Friday March 9 at 1PM . We'll be gathering at the Stock Exchange to call for a reboot of the existing stock transfer tax as part of this year's state budget, with a particular focus on the explosion of stock buybacks in the wake of the GOP tax scam cuts we all fought together last year.
Companies That Use Their Federal #GOPTAXSCAM Windfalls to Buy Back Stock and Enrich Investors Should Pay Their Fair Share of Taxes in New York!
As Albany legislators and Governor Andrew Cuomo work to finalize a state budget by the end of the month, we will demonstrate in support of a Stock Buy Back Transfer Tax. Corporations are using their #GOPTAXSCAM windfall to buy back stocks rather than to grow the economy. The Stock Buy Back Transfer Tax is a way to ensure that one percenters who benefit most from the new federal tax law pay their fair share in New York. A .5% transfer tax on stock buybacks could raise $2 billion a year in New York for affordable housing, healthcare and quality Kindergarten - CUNY public education.
New York State currently REBATES $14 billion a year in Stock Transfer Taxes to brokers. This is part of a campaign to reinstate part of that tax.