Because that's the only way that he would allow taxes to be raised on rich people, and "Rat Faced Andy" just cut a deal in Albany.
Cuomo's political brand has always been his fundraising prowess, and that in turn was driven by his constant kowtowing to the very rich, and protecting them from things like having to pay taxes.
This would not have happened a year ago:
New York State leaders announced they had reached an agreement on Tuesday on a $212 billion state budget that includes tax increases on the wealthy as well as substantial relief for renters, undocumented immigrants and business owners hit hardest by the coronavirus.
Many of the budget’s key initiatives are aimed at jump-starting the recovery of a state that was the onetime epicenter of the pandemic.
It includes $2.3 billion in federal funds to help tenants late on rent; $1 billion in grants and tax credits for small businesses that suffered from the economic downturn; and a $2.1 billion fund to provide one-time payments for undocumented workers who did not qualify for federal stimulus checks or unemployment benefits, according to budget highlights released by the governor’s office.
All were proposals championed by Democratic leaders of the State Legislature, who leveraged Gov. Andrew M. Cuomo’s weakened political position to forcefully lobby for their priorities, including a long-sought personal income tax rate increase on individuals making over $1 million — overcoming the governor’s longtime aversion to raising taxes on the rich.
Two new brackets would also be introduced for incomes over $5 million and $25 million. The changes mean wealthy residents of New York City would effectively be subject to the highest combined local and state personal income tax rates in the nation, surpassing California.
Good. Our taxes are too damn low.
Some people will argue that the rich will move to lower tax states, to which I say, f%$# the rich with Cheney's dick.
As was noted earlier, "The Problem with Living in Florida is that You Have to Live in Florida."
If there is a mass exodus of the rich from Manhattan, then the rents will go down, and the 99% will be able to afford to live there again.