Dems push Hochul to block staggering 72% tax rate slapped on NYC's first full casino
Queens Democrats are urging Governor Kathy Hochul to block a proposed 72% tax rate on slot revenues at Resorts World New York City, the city's first full casino.Summary
Queens Democrats, including state Senator Joe Addabbo, have sent a letter to Governor Kathy Hochul and the New York State Gaming Commission, urging them to block a proposed 72% tax rate on slot revenues at Resorts World New York City. The casino, which recently expanded to include table games, had proposed a 56% tax rate, but the commission argues that an additional 16% is required for horse racing support, bringing the total to 72%. Lawmakers contend this rate is excessively high and threatens billions in investment and thousands of jobs. The commission maintains the tax is separate from statutory obligations, while the governor's office states that tax rates do not include racing support payments. Resorts World is engaged in constructive discussions with the state.
(Source：New York Post)