Stringer: Trump Tax Plan Would Benefit Wealthiest New Yorkers, Hurt Poor

NEW YORK (CBSNewYork) -- A new analysis by city Comptroller Scott Stringer shows the impact of President Donald Trump's proposed tax plan on New York City.

As WCBS 880's Mike Smeltz reported, Stringer's report shows the top 2 percent of the city's taxpayers would receive two thirds of the tax cuts.

WEB EXTRA: Read The Report

The report also indicated that the president's plan would actually increase the burden on the most cash strapped New Yorkers -- including nearly 40 percent of single parents seeing a rise in tax payments.

"I find it incredible that this guy who comes from New York City, who has major investments here, can't see what his proposals will do to his hometown," Stringer said.

The analysis from the comptroller's office is based on tax plans Trump proposed as a candidate. Plans change when candidate becomes president, with Trump having to deal with Congress to get his tax wish list through.