Charles Payne: New York budget, taxes a sign politicians have run out of ways to keep promises

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Will new taxes aimed at New York City help or hurt the Big Apple?

Living in New York is about to get more expensive and more difficult for many.

Fox Business’ Charles Payne says New York politicians are desperate for money and looking for it any which way they can after passing a progressive budget Sunday.

“Well I mean you know they're spending a lot of money and they need to find it any way they can and look under every pillow cushion they could find,” Payne said on “America’s Newsroom” Monday.

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The Democrat-controlled New York Legislature Sunday passed a statewide ban on single-use plastic bags and planned to approve tolls for driving into the busiest sections of Manhattan starting in 2021 as part of a $175.5 billion state budget agreement 

“You know I do find interesting, though, the idea that we're going to tax people who drive into work in the city to fix the subway," Payne said. “That’s progressive.”

The budget, worked out with Gov. Andrew Cuomo, includes other agreements that will include two other dedicated revenue sources for the subways: a “mansion tax” on Manhattan homes that sell for $25 million or higher, and an internet sales tax levied on retailers who sell merchandise online.

Payne was critical of the budget, saying it doesn’t really help New York grow.

“It's another one of these big city tax plans that ultimately, I don't see how it helps build the city right. It's not pro-growth,” Payne said.  “It's about where can we find money and in many instances where can we deter people from wanting to even come to the city.”

“This budget is probably the strongest progressive statement that we’ve made,” Cuomo said Sunday.  “If you have big problems, it calls for big solutions.”

The Manhattan tolls plan, known as congestion pricing, will be the first of its kind in the nation with the billions the tolls are expected to raise going toward fixing New York City’s mass transit system.

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Payne believes politicians have ran out creative ways to keep promises to their constituents.

"There's no creative way for them to stay in office after making all the promises that they've made to get office in the first place," Payne said. "To ever go back and say hey let's do this in a smart way which will attract business which will attract a well-heeled people to live in our cities."

The Associated Press contributed to this report.