Gothamist- The NY Sun reports 26 out of the 51 City Council members support an Assembly bill that would require hedge fund and private equity managers to pay more in taxes.
The City Council is looking for ways to raise money (like implementing a hotel room tax) rather than slashing programs, noting, "With New York City facing tight budget projections in the years to come, it is incumbent on all of us to make sure everyone is paying their fair share of the tax burden before we ask those who depend on social services and public investments to suffer in the form of budget cuts to schools, mass transit, or health care."
