Chamber joins business coalition in sounding the alarm on proposed tax increases

FOR IMMEDIATE RELEASE

NEW YORK, NY – March 11, 2026 – Today, the Manhattan Chamber of Commerce joined a united coalition of New York City business leaders and organizations to release a joint statement strongly opposing the tax increases proposed in the State Senate and Assembly One-House Budgets.

The coalition issued the release to warn lawmakers that these tax increases would raise the cost of living and hurt New York's economy.

The full statement from the coalition reads:

"New York City's business community stands united in strong opposition to tax increases as part of the State budget under negotiations. New York is the highest tax and spending jurisdiction in the country and New Yorkers already pay among the highest individual, business, and property taxes. This is particularly true in New York City, which is home to the nation's highest individual, business, and real estate tax rates. The Governor's Executive Budget prudently recognized this reality. The legislative one-house budgets do not. These ill-advised proposals will only make it harder for families and businesses to live and grow in New York City, deter investment, and continue New York's electoral decline due to its tax and fiscal policies."

The joint statement was signed by a broad coalition of groups, including The Bronx Chamber of Commerce , The Brooklyn Chamber of Commerce , Building Owners and Managers of Greater New York , The Business Council of New York State , Five Borough Jobs Campaign , Hotel Association of New York City , The Manhattan Chamber of Commerce , National Federation of Independent Business (NFIB) , National Supermarket Association , New York Apartment Association , New York Building Congress , New York State Association of Realtors , New York State Builders Association , The Partnership for New York City, and several other leading industry and business organizations.