ALBANY— “New York cannot continue its habit of taxing too much and spending too much if our political leaders are serious about creating jobs in the private sector economy,” said Heather Briccetti, acting-president & CEO of The Business Council of New York. “The good news in the one-house budgets released this week is that the State Senate majority gets it. The bad news is that the Assembly majority does not.”
“Proposing a new $4 billion tax on high-income taxpayers, as proposed by the Assembly Democrats, is the wrong message for New York to send,” added Briccetti. “The structural deficits in New York are caused by too much spending, not too little taxing. The state needs to bring spending under control, not adopt new taxes to support unsustainable government spending.”
“Fortunately, the Senate Republicans have heeded the call from Gov. Andrew Cuomo to deal with the current budget deficit by fundamentally restructuring the way New York does business,” said Briccetti.
The Business Council also supports additional tax reforms proposed by the Senate, including proposal to reduce the so-called “18-A” assessments on energy bills two years sooner than planned, and to expand the investment tax credit for financial services companies, one of New York's most important economic sectors.
The Business Council is conducting an e-advocacy campaign to "Fix New York's Broken Budget" here.
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