NEW YORK: Top New York business leaders on Tuesday urged state leaders to drop proposed state tax increases, arguing the hikes would derail the Big Apple's recovery from Covid-19.

The Partnership for New York City released a letter from 250 executives, including heavy hitters such as JPMorgan Chase Chief Executive Jamie Dimon and Pfizer CEO Albert Bourla that said tax increases contemplated in state capital Albany would drive away businesses and talent from New York City.

The group said the recent passage of President Joe Biden's $1.9 trillion fiscal package included enough funding for New York to avert the need for local taxes, which could mar the city's chances to "reassamble the deep and diverse talent pool that makes New York the greatest city in the world," the letter said.

"For better or worse, the pandemic has demonstrated that our workforce is more mobile than we ever imagined," said the letter to New York Governor Andrew Cuomo, Senate Leader Andrea Stewart-Cousins and House Speaker Carl Heastie.