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Today I wanna talk about the state's fiscal situation and why we need to raise taxes on the rich in order to revitalize the public sector. We're. Now 40 years into a bipartisan regime of public austerity and this goes back to you. Carrie and mary oklahoma and it shows the subways in New York city are deteriorating, something like a third of the Our on time, because they have problems with the switches and the tracks and other problems nights a New York city housing authority is falling apart. We have eighteen hundred and 37 structurally deficient bridges of state which they say will cost 67 billion dollars to replace and you know that the Republicans, like to talk about how fiscally conservative they are but you have alot of Democrats say they're socially liberal, but fiscally conservative, but you're, not physically responsible because we've run up a big debt and turns over answers infrastructure Yes, and this includes the progresses I was stunned the other day to seize effort. Each up tweet that she wrote in huge carry in the last election who carrie is the one that started this one. Mario former was lieutenant governor. They started uh making the Progressive income tax less Progressive. They stop uh retaining and started rebate in the stock transfer tax and that's not me as much as the so-called Progressive in the primary cynthia Nixon seen in Bloomberg was running. She wouldn't be right and of course, Bloomberg was cheering the fact that the rich are moving into Manhattan the working class is Push it out so what we've had is top in tax cuts to justify uh spending cuts for public services and infrastructure and my campaign is calling for a Green new deal which would revitalize public infrastructure and services and my release provides an outline of about 45 billion dollars. We need to put in each year for the next decade to upgrade and repair our infrastructure and undertake the tasks Transition to 100 percent clean energy system that we have to do in New York state and we also in order to relieve the physical distress that all our counties and towns and cities in the state are going. It have the state pay for it's unfunded mandates and restore the revenue sharing. That used to provide the municipalities so the services from the state or down but then the cities, towns and counties cannot deal with their infrastructure needs or many needs of uh in terms of public services, including the schools What we've had is a philosophy of giving tax cuts to the rich that they'll supposedly investment create jobs and the benefits will trickle down. But we've seen that this is not happened. The upstate economy remains depressed. Has been getting worse for decades. I mention the infrastructure just follow the far I've mention the distress local governments in our state and what we've had is the tax burden shift from a Progressive income tax to local property, tax payers so the state is balancing its budget on the backs of local property, tax payers so our taxes and upstate Work for the highest in the nation, our property taxes, which is a regressive tax. Meanwhile wildly top in tax record has been cut from 15 percent to listen to half that and in the millionaires tax brings it up a little bit. But governor cuomo says he did not sure you want to extend that when it expires next year and the bottom tax bracket was double from two percent to four percent in the same period since 19 eighty the top one percent share of income has grown from 12 percent to 31 percent, so the Richard got richer and the rest Western New York I'm really struggling to exist so we want more Progressive income tax if we went back to the tax structure, we had in the 19 70 s. We would have 10 billion dollars more in income and 95 percent of us would have an income tax cut if we retain the stock transfer tax in recent years that's between 12 and 16 billion dollars. Let's call 15 billion and if we clawed back trump federal corporate tax cut windfall except for companies that use it to Wages are higher. No jobs were talking on the order of five million so right. There are laid out 30 billion dollars by just restoring Progressive taxation in the state that can be use for the public investments. We need. We also need what we call ecological taxes. These are taxes on the use and abuse of limited natural resources. One of those is congestion pricing it's scarce land and in lower Manhattan in the cars are great. All kinds of problems down there Creates a revenue source congestion pricing that can be used to fix the and the estimate. There is one and a half billion and then we're calling for aggressive carbon tax where we source the. We tax the sources of carbon, upstream and we rebate. You know 50 to 25 percent of that to uh lower income consumers who will be paying for that down stream in the uh carbon for example, you know Well, companies we tax at the source and then there were consumer, would pay for it at the pump, but this rebate would help them deal with and that's why we called Progressive income tax so there is another uh six and a half million dollars. So that is where we get the money we're talking on the order of 45 billion dollars a year to deal with this uh infrastructure deficit as well as social services of deficit. Let's talk about the public schools the state Lost the case the campaign for fiscal equity with said that the state needs to put in five point five billion dollars more to get the funding up, particularly the high poverty districts and then the great recession hit. They've never met that they're four point two billion dollars in cumulative behind on app and the state excuse me is in court fighting the parents and teachers of course, parents and students of New York city in syracuse and one suit and seven small cities in another try not to pay What's already said they should pay so we're talking about uh the different economic development approach with this we called the Green new deal to revitalize public services and infrastructure and it's eight bottom up economics. Approaching contrast to the trickle down approach, we seen from bipartisan leadership from both parties and we argue this will lower the cost of living and doing business in New York make it more attractive to the people that live here. You know people talk about how many people have been left during the menstruation that's two to crappy jobs and our cost of living and businesses instead of giving favors to Contributors and if there's a lot of corruption involved to uh, we wanna do it for everybody lower the cost of doing business public provision of uh public services and uh infrastructure will do this. A single payer. Healthcare system will lower the cost of providing healthcare to employees for business public power will lower the cost of the power you need for a business as well as a home public, broad man, lower cost. We got we know that from around the country uh and better services than experience estate, public Bank will lower the cost of credit and financing infrastructure cuz. We won't go Wall Street and other fees, commissions and interest going to the bankers. The interest would come back to us with the state Bank and in North dakota day financing infrastructure, about half the cost that we do here in New York city. Cuz. They have a state Bank and then, if we lowered, we can lower the property taxes by paying for the unfunded mandates and share in the revenues and in local communities can provide good services and still cut your property taxes. This is across the board and the big investments in public infrastructure creates good Well-paid jobs usually Union jobs and there's, a multiplier effect, those people spend their money in the community businesses have to expand to meet the demand. This is how we revived the economy from the bottom up as well as deal with the serious problems we face now. My press release provides a list of uh it's basically have back of the envelope estimate of the public investment needs. We have it. This time and House Progressive than ecological taxes can meet those revenues and If you know, the rhythm take mistake, I got one billion dollars less revenue than I do and I mean yeah revenue that I do and sources uh I'm sorry one billion dollars less in revenues and I have it. What we need for public investments but I just wanna hit a couple of highlights here. We face a real climate emergency. We just had this report come out from the UN that we've gotta act now and it's gonna take alot of money and we're looking at seven billion based on the study that was trying to do have at the rate and what we're doing to get 200 percent clean energy by 20 30 and that study uses a Perfect investment of uh for every one dollar public investment you get 10 dollars in private investment, along with the market and set us from net metering in the carbon tax and that's conservative the Obama stimulus had some clean energy and they got uh 49 dollars of private investment for every one dollar and public investment. So we think that's realistic the fast forward plan needs 37 billion dollars over 10 years so we've allocated four billion a year go to qualify and when he first heard that totaled uh he said he was Before it they don't have to tax capacity in the city. We do stay wide and of course we want to improve public transportation. All over the state. 19 needs 32 billion dollars over five years, just to get the mold to lead the rest approaches out and get the elevators the roofs and the boilers fixed and we wanna expand public House and we're gonna have affordable housing for everybody in the state um the education we've allocated a billion and a half increase over the next three years to catch up on that cute little shortfall uh we want tuition Dooney and Sunni, which our governor cuomo talks about his existing scholarship reaches three percent of so many students into percent. Cuny students and we can talk about why that is. But he didn't put enough money into it. It's it's the program really not designed to help working class students uh pavilion and a half. We do it. According to the bill, to really do tuition free uh cute insulting that uh uh Assembly member James scoop is put in 20 14 and so we can. We can talk These different sources of our need investment needs and I did mention most of the major revenue sources so with that I would like to ask if you have any questions or comments