AOC’s proposed billionaires tax would spur exodus of wealthy from New York, report says

Boosting taxes on the rich to aid illegal immigrants and other New York residents excluded from coronavirus emergency federal assistance would cause an exodus of the state’s wealthiest residents, who also generate a huge chunk of the city and state’s tax base, a top business advocacy group says.

The warning shot from the Partnership for New York City comes a day after Rep. Alexandria Ocasio-Cortez and a coalition of progressive groups launched a campaign to pressure Gov. Andrew Cuomo and the Legislature for a billionaires tax they say would generate...