Local Income Taxes and Revenue Needs

Archive Report

New York City's Need for More Revenue

New york city's new tax program, proposed in March by Republican Mayor John V. Lindsay, reflects a basic problem facing virtually all great urban areas of the United States. Mounting population and the rising costs of expanded and improved services have pushed city administrators almost to the wall in their quest for money to finance even the most necessary urban activities.

Mayor Lindsay, citing a prospective municipal deficit of more than $500 million for the fiscal year beginning July 1, told New Yorkers that the city faced “a financial crisis.”1 Defending his controversial tax proposals and his record $4.6 billion budget at City Council hearings on the tax program, April 20, the Mayor said that unless his tax program ...

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