New York City Mayor Zohran Mamdani is under fire for backing a plan that would slash New York’s estate tax exemption by nearly 90%, a move opponents say could drag middle-class families into a tax burden long aimed at the rich.New York is one of the states that imposes its own estate tax in addition to the federal levy, and the proposed changes would dramatically expand its reach—potentially sweeping in not just the wealthy, but families whose primary asset is a home they hoped to pass on to their children.MAMDANI'S RENT FREEZE, TAX HIKES A 'ONE-TWO WEALTH DESTRUCTION PUNCH,' ECONOMISTS WARNTh...
HALO NEWSLETTER
Join HALO today and unlock this story instantly — It's Free
