Income tax hike on $1M+ earners ($3B)

Proposed millionaires-tax surcharge generating $3B revenue — pure Albany play. Hochul rejected PTET-75% pitch Apr 28; Hochul met privately with Griffin Apr 30 (Bloomberg read as further distancing). Final May 12 Hochul-Mamdani deal: pied-à-terre tax IN, PTET rollback NOT, millionaires-tax surcharge NOT, no general income-tax-hike provision. FY27 NYC Executive Budget doesn't rely on it. State $268B framework doesn't include it. Trump WABC May 12-13: "When you lose people like that, it's sort of not recoverable." Promise BROKEN for FY27. Albany session not over — could re-emerge.