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For Release — April 11, 2008

Spending increases and new taxes in state budget "disappointing" to Business Council and members

ALBANY—Business Council president & CEO Kenneth Adams said,

"While we recognize the unique and difficult circumstances that accompanied this year's budget process, it was disappointing to the Business Council and our members that the FY 2009 budget approved this week contains both spending increases and new taxes.

However, we are confident that our message of reduced spending and taxes will resonate as we move forward. Over just the past several days, numerous columnists, editorial boards—and even state leaders themselves—have all picked up the Business Council's message and have concluded that New York State cannot hope to stay economically competitive unless we curb spending and reduce the high tax burden that punishes our businesses and residents.

Now that the budget is resolved, the Business Council looks forward to working with state leaders over the remaining months of the legislative session to ensure that New York moves toward a new fiscal discipline that promotes economic growth, good jobs and strong communities. On issues ranging from upstate economic development and lower electricity costs to property tax caps and a completion of the workers' comp reform we started last year, we remain committed to helping New York regain its competitive edge."