When tax policy shifts, the impact doesn’t stay at the top. It flows down. In New York City, where real estate values are already high, lowering exemptions and increasing rates could pull everyday homeowners into estate tax exposure. That creates a liquidity problem. Families may be forced to sell assets just to cover the tax, regardless of long-term plans or intent. Beyond taxes, proposals like this influence behavior. Where people choose to live, invest, and build wealth often follows stabilit