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Financial Services Committee Update

February 9, 2010

1199 SEIU Launches Banker Bonu$ Tax Campaign

1199 SEIU has launched a Banker Bonu$ Tax campaign urging their 300,000 employees to contact New York State Legislators in support of a 50% New York State payroll tax on cash bonuses over $50,000. The Business Council of New York State, Inc. believes that this tax will be permanent to pay for recurring state expenditures. The populist proposals for new bank taxes by 1199 SEIU and the Obama Administration’s “Financial Crisis Responsibility Fee” could cause New York’s financial services industry to collapse and drive business overseas.

The Business Council is opposed to any tax or fee increase that hurts private sector job creation in New York. We continue to press the Governor and the legislature to cut spending and reduced taxes on employers.
Bonu$ Tax

Tell Albany To Support Fiscal Reform!

The Business Council has launched “Fix New York,” our new e-advocacy tool, and now we need your swift action. Tell Albany, we need more jobs, not more taxes and fees. Governor Paterson and the members of the Legislature must promise all New Yorkers that they won’t raise taxes to pay for programs we can’t afford. Enough already! We don’t need 1199 SEIU and other organized labor unions setting the agenda in this budget.

The governor has proposed a budget for the new fiscal year with almost no increase in state spending; less than 1 percent growth. That is the right way to go. Help convince the NYS Legislature to support the same approach.