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New York’s Upper East Side Could Be the Biggest Loser From the Tax Plan

  • Democrat Carolyn Maloney represents top income district
  • Republicans’ proposal includes fourth bracket for top earners
Upper East Side New York.

Upper East Side New York.

Photographer: Michael NagleBloomberg

Taxpayers in New York’s 12th Congressional District, which includes the Upper East Side, may have the least to gain from income-tax cuts in a House bill released last week.

The district, represented by Democrat Carolyn Maloney, has the highest concentration of people who make more than $1 million a year -- those who’d keep paying at the current top marginal tax rate under the legislation.