New York City restaurants in need of a savior can strike one candidate off the list: the city itself. Mayor Bill de Blasio said in a press conference Monday that his administration cannot afford to support restaurants as they face massive financial losses. “It’s a very painful situation and this is such a big part of our city’s life and such a big part of our communities, our economy, you name it,” the mayor said.
The post City can’t afford to bail out restaurants: de Blasio appeared first on The Real Deal New York.
Curbside cuisine may become a permanent fixture in New York City’s streets. A new bill introduced in the City Council Tuesday would repeal the current temporary program and make outdoor dining a lasting staple. The bill is being introduced by Council members Antonio Reynoso and Keith Powers. In addition to expanding outdoor dining, the bill would legalize outdoor propane heaters. “Outdoor dining has been a lifeline to restaurants across all 5 boros during COVID19. Extension
The post City Council proposes bill to expand outdoor dining permanently appeared first on The Real Deal New York.
New York’s real estate industry have another potential tax to worry about. A handful of New York legislators want to match New Jersey’s move last week to increase taxes on seven-figure earners to help plug the state’s growing budget deficit, according to the Wall Street Journal. Legislators in the Garden State agreed to raise Jersey’s tax rate to 10.75 percent from 8.97 percent for those earning between $1 million and $5 million. The move is
The post New York lawmakers push for new millionaires’ tax appeared first on The Real Deal New York.