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Tax Breaks for the Rich

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With the 421a tax abatement program's expiration date looming, the discourse surrounding the controversial program has reached a bit of a fever pitch. Now, The New York Times Editorial Board has officially come out against the program, saying that "ideally, the Legislature would simply abolish 421-a." The editorial also makes the case for stronger rent laws, calling upon Governor Cuomo to "distance himself from Albany's status quo and join Mr. de Blasio in leading a coalition of the honorable, to give some relief to more than two million New Yorkers in rent-regulated apartments, who live in constant fear of crippling rent increases and displacement from their homes." [NYT; previously]