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A service for banking industry professionals · Sunday, February 9, 2025 · 784,451,657 Articles · 3+ Million Readers

Statement from Governor Hochul on Backdoor Tax

"New Yorkers don’t need a backdoor tax disguised as a tariff. As Governor, I’m fighting to put money back in people’s pockets — and we need real partners in Washington to do the same, without sticking middle-class families with the bill.

“Americans are already feeling the strain of high costs — yet Republicans in Washington are pushing tariffs that will make everything more expensive.

“In New York and across the Northeast, gas and electricity costs could skyrocket. Tariffs on Canadian lumber and building materials would drive up housing costs and stall construction. These tariffs will disrupt supply chains, slow production, and cost jobs. And when other countries hit back, our small businesses, farmers and manufacturers will take the hit.

“Republican members of New York's congressional delegation have a choice: stand up for their constituents or let the Administration push through this disastrous policy. I urge New Yorkers to call them with a clear message — no backdoor tax.”

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