“Democrats in the state Senate and Assembly will formally propose higher income tax rates for wealthy New Yorkers, putting them at odds with Gov. Kathy Hochul’s stance against hikes,” Politico reports.“State lawmakers next week are expected to formally unveil their non-binding budget resolutions, which set the public parameters of the high-stakes budget negotiations. The tax hike proposals, which have not been previously reported, are in line with New York City Mayor Zohran Mamdani’s push to raise rates on people who earn more than $1 million a year as he pushes to close a $5.3 billion city budget gap.”