Wall Street on track for record-smashing $90B year: New York State comptroller
Wall Street is projected to reach a record $90 billion in profits for 2026, driven by an AI boom and increased dealmaking. The report suggests this windfall should be used to improve public services rather than raising taxes on corporations and high earners.
Why it matters
The financial health of the securities industry is a major driver of New York's state and city tax revenue, influencing local fiscal policy debates.
See more of our coverage in your search results.
Make New York Post a Preferred Source Wall Street is on track for a record-shattering $90 billion year, New York State Comptroller Thomas DiNapoli’s office said Tuesday — undermining lefty calls for tax hikes.
The securities industry posted $45.9 billion in profits just in the first half of this year, up 51.3% from the same time frame in 2025, according to a new report from the Empire State’s official bean counter.
The blockbuster figure puts Wall Streeters on track to rake in $90 billion by New Year’s Eve, the comptroller forecast — up nearly 40% from 2025’s total profits of $65.1 billion.
Andrew Rein, president of the nonpartisan Citizens Budget Commission, warned against calls from progressive lawmakers to hike corporate and millionaire taxes in light of the tax windfall to come.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in