De Blasio Proposes NYC Tax Surcharge on Wealthy for Schools
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New York City Public Advocate Bill de Blasio, a probable Democratic candidate for mayor next year, proposed a tax increase on residents earning more than $500,000 a year to pay for extended school hours.
De Blasio, 51, elected in 2009 to the watchdog post, told the Association for a Better New York today that the surcharge would raise $532 million for all-day prekindergarten classes and extended hours in middle schools. He said the city needed to boost education funding to keep pace with emerging nations such as China and India.