Lower Costs for Queens Families

Lowering costs for working families is my top priority—because no one should struggle to afford housing, healthcare, childcare, or energy while working full-time.

The Solutions

Reform NYC’s Broken Property Tax System

Property Tax Reform. New York City’s Property Tax system has been broken for decades. Right now, million-dollar condos often pay lower effective tax rates than modest homes in Queens or Brooklyn. This regressive structure is hurting working families and letting wealthy property owners off the hook.

We can fix it with common-sense reforms:

  • One Fair System: Merge all small residential properties (1–3 family homes, co-ops, condos, small rentals) into a single class, taxed on real market value.

  • Targeted Relief: Protect middle-class homeowners with a homestead exemption and an income-based “circuit breaker,” so no one pays more than they can afford.

  • Fair Assessments: Eliminate outdated caps and fractional formulas that distort tax bills and push the burden onto renters and working-class neighborhoods.

These reforms would make the system simpler, more transparent, and above all, fair — ensuring that property taxes reflect true value while protecting those least able to pay.

Lower Taxes for Retirees

Too many New Yorkers who worked their whole lives are being squeezed by rising costs in retirement. While New York allows retirees to exclude some retirement income from state taxes, the current cap hasn’t kept up with inflation or the real cost of living.

I will propose legislation to:

  • Increase the retirement income tax exemption from $20,000 to $50,000 for New Yorkers age 59½ and older

  • Index the exemption to inflation so retirees don’t lose purchasing power year after year

This reform would provide real relief for seniors on fixed incomes and help longtime residents afford to stay in their homes and communities.

Make the Ultra Wealth Pay Their Fair Share

For years, billionaires and millionaires have claimed they’ll flee New York if we ask them to pay more in taxes. That’s a myth — pushed by the very people who benefit from a rigged system. Independent research has shown that taxes play little role in whether the ultra-wealthy stay or leave New York.

What is real is the cost crisis facing working families. Fixing it means asking those at the very top — not everyday New Yorkers — to finally contribute their fair share.

None of these proposals raise taxes on working families. They are targeted exclusively at the ultra-wealthy and large corporations.

That’s why I will co-sponsor and fight for the Invest in Our New York package of tax reforms:

Progressive Income Tax

Right now, someone making $215,000 pays the same income tax rate as someone making $1 million. Someone earning $5 million pays the same rate as someone earning $25 million — and there’s no higher bracket for billionaires at all.

This bill adds new top tax brackets so that only the wealthiest New Yorkers — roughly the top 5% — pay higher rates.
Revenue raised: $21 billion annually.

Corporate Fair Share Tax

Corporate profits have soared, yet large corporations pay less in taxes today than they did decades ago.

This bill raises the corporate tax rate slightly — but only on businesses making over $2.5 million in profits — ensuring big corporations contribute what they owe.
Revenue raised: $7 billion annually.

Capital Gains Tax on the Ultra-Rich

Many of the richest New Yorkers make most of their income from investments, not wages — and pay lower tax rates as a result.

This proposal taxes capital gains income only above $500,000 a year, ensuring Wall Street profits aren’t taxed less than work.
Revenue raised: $12 billion annually.

Billionaires Wealth Tax

When a family’s home goes up in value, their property taxes rise. But billionaires can hold enormous wealth in assets like stocks, art, and jewelry — gaining value for decades without ever being taxed.

This bill creates a modest annual tax on extreme accumulated wealth, applying the same logic as property taxes — but only to billionaires.
Revenue raised: $20 billion in the first year, $1.5 billion annually thereafter.

Heirs Tax

Right now, someone can inherit up to $5 million without paying any estate taxes at all.

This reform establishes progressive rates on large inheritances — while protecting family homes. A primary residence can be exempted, so heirs are not taxed on the home they live in.
Revenue raised: $4 billion annually.

What This Makes Possible

Together, these reforms would raise $64 billion in the first year alone — without raising taxes on working families.

That means we can:

  • Build truly affordable housing and rein in runaway rents

  • Invest in public schools and make CUNY tuition-free again

  • Modernize infrastructure and expand public transit

  • Upgrade our electric grid to support clean energy

  • Expand mental health care and addiction services — before people fall into crisis, homelessness, or incarceration

That’s what it looks like when government works for working people — not billionaires.

Guarantee Good, Family-Sustaining Jobs for New Yorkers

Too many New Yorkers are stuck in low-wage work without clear paths to careers that pay a living wage. College shouldn’t be the only route to opportunity — especially when tuition debt is crushing families and economic mobility is out of reach for too many. That’s why I support the Good Jobs Guarantee Program (S.563).

This legislation would establish a statewide Good Jobs Guarantee Program that connects New Yorkers — especially those from low-income communities — to high-paying careers through training and job placement, without upfront costs or crushing debt.

Here’s how it works:

  • Skills first, no upfront tuition: Participants receive training from approved providers without paying anything up front.

  • Real job outcomes: The program focuses on training that leads to well-paying, sustainable jobs.

  • Shared success, not shared risk: Trainees only contribute a portion of their income after they secure a good job — and if they lose that job, payment obligations stop.

  • Supports low-income New Yorkers: Eligibility targets those with lower incomes or without college degrees, so the people who need opportunity the most benefit first.

  • Public-private partnership: A state guarantor fund helps attract private investment and expand proven training models at scale.

This isn’t just training — it’s a bridge to economic mobility, helping New Yorkers build careers in fields from tech to trades without saddling themselves with debt. Estimates suggest thousands of residents could gain better earnings and long-term security through this model.

Why this matters for Queens:
Residents here deserve accessible pathways to quality careers that pay — whether they’re coming out of high school, looking to re-skill, or seeking a fresh start. This program puts economic opportunity within reach for working families across our communities.

Protect Small Businesses with the Small Business Rent Stabilization Act

Small, locally owned businesses are the heart and soul of Queens — from neighborhood diners and bodegas to family-run shops and services. Yet across New York City, soaring commercial rents have forced beloved small businesses to close, pushed storefronts out of our communities, and left entrepreneurs without stability or security.

That’s why I support S8319 — the Small Business Rent Stabilization Act. This bill would enact a commercial rent stabilization system in New York City and establish a Commercial Rent Guidelines Board to help protect small business tenants from unpredictable rent spikes that threaten their survival.

Under this legislation:

  • A commercial rent stabilization framework would be created so rent increases for eligible small business spaces are predictable and fair, not wild and arbitrary.

  • A new Commercial Rent Guidelines Board would be formed to set and adjust maximum annual rent increases, much like how residential rent regulation works — giving small business owners a voice and stability in negotiations with landlords.

Too often, corporate landlords levy rapid rent hikes that make it impossible for small businesses to plan, grow, or stay rooted in their neighborhoods. This bill would level the playing field and help ensure that local entrepreneurs — not big real-estate interests — can continue to serve their communities.

Supporting small businesses isn’t just about economics — it’s about preserving the character, jobs, and everyday connections that make Queens and New York City special.

Make Local Law 97 Affordable for Co-Ops and Condos

I strongly support the goals of Local Law 97 — cutting building emissions is essential to fighting climate change and protecting public health. But we cannot meet those goals on the backs of middle-class homeowners and renters.

In many Queens neighborhoods, co-ops and condos are among the last remaining sources of relatively affordable homeownership. Without proper support, the cost of compliance risks forcing buildings to raise maintenance fees, impose special assessments, or pass costs on to renters. That’s unacceptable — and unnecessary.

There are proven ways to make Local Law 97 compliance affordable.

Expand and Strengthen the J-51 Tax Abatement
I will push to extend and expand the J-51 program by significantly increasing the current $50,000-per-unit cap. This would allow co-ops and condos to offset the cost of energy-efficiency upgrades — like heating system improvements and electrification — without burdening residents.

Direct State Funding for the NYC Accelerator
The NYC Accelerator already helps buildings navigate Local Law 97 by providing free technical assistance, project planning, and access to financing. I will fight for direct state funding to expand this program so more co-ops and condos can get expert guidance, secure affordable financing, and complete upgrades efficiently — without guesswork or predatory lending.

Climate Action Without Displacement
Climate policy should lower energy bills over time, not push people out of their homes. With the right public investment, buildings can cut emissions, modernize aging infrastructure, and reduce long-term operating costs — all while protecting residents from sudden financial shocks.

We can meet our climate goals and keep co-ops and condos affordable. The choice isn’t between sustainability and housing stability — it’s whether we’re willing to make smart, equitable investments to achieve both.