Politico: New York Playbook: New spending on street safety, homelessness By ERIN DURKIN, ANNA GRONEWOLD and DEANNA GARCIA April 25, 2022 7:37 AM “City Council eyes big tax cut[...]

Politico: New York Playbook: New spending on street safety, homelessness

By ERIN DURKIN, ANNA GRONEWOLD and DEANNA GARCIA

April 25, 2022 7:37 AM

"City Council eyes big tax cut to help hotels, tourism rebound from pandemic," by New York Post's Carl Campanile: "The New York City Council is so concerned about the sluggish recovery of the Big Apple's $100 billion tourism market from COVID-19 that it's considering dramatically slashing the local hotel tax to spur a faster rebound, The Post has learned. The Hotel Association of New York City is urging Mayor Eric Adams and the council to lower the occupancy tax rate on hotel room stays from 5.875% to 2.875%. The hotel occupancy tax is expected to generate $255 million in revenue for city officers for the fiscal year ending June 30, according to the mayor's preliminary budget plan. But studies suggest the city's tourism market won't fully bounce back to 2019 pre-pandemic levels of business until 2026."