New York City Developers Are Wary Over Fate Of 421-a Tax Break


The future of a tax break that has saved New York City developers billions of dollars has emerged as the thorniest issue in the state capital, twisting political alliances, alarming the city’s real-estate interests and serving as another wedge between the state’s two top Democrats.

The tax program, known as 421-a, has previously drawn the scrutiny of an ethics panel because it gives lucrative benefits to developers, who also are among the state’s more generous political contributors.


Read the entire article at the Wall Street Journal.