Mayor Eric Adams bold tax relief initiative, “Axe the Tax for the Working Class,” is advancing toward implementation, promising significant financial relief for hundreds of thousands of New Yorkers.

In a statement celebrating the proposal’s progress, Adams underscored the positive impact of the measure, which is included in the state budget following a determined push by his administration and state partners.

“Our ‘Axe the Tax for the Working Class’ proposal is another step closer to helping hundreds of thousands of working-class New Yorkers save more of their hard-earned money!” Adams announced.

The legislation aims to eliminate or reduce city personal income taxes, resulting in an estimated $63 million in savings for more than 582,000 residents.

“This legislation — part of the state budget thanks to our strong push and the work of our state partners — will save over $63 MILLION for more than 582,000 New Yorkers by eliminating and cutting city personal income taxes.”

The mayor positioned the initiative as a victory for working people, reaffirming his commitment to easing financial burdens.

“You earned the money. Now, we’re fighting to ensure you keep it!”

As the proposal progresses, its final approval could mark a significant milestone in Mayor Adams’ broader economic agenda, aimed at making New York City more affordable for everyday workers.