For Release — Jan. 19, 2010
Business Council says executive budget shows spending restraint
ALBANY— “Gov. David Paterson's executive budget moves New York in the right direction by restraining spending,” said Kenneth Adams, president and CEO of The Business Council of New York State, Inc. “The Governor's budget shows necessary restraint. We urge the legislature to follow his lead and adopt a no-growth budget, and avoid adding spending and taxes which our economy cannot afford.”
“While the Governor's budget contains important reductions in state spending, the proposal raises approximately $1 billion in new taxes on specific sectors including health care, soft drinks and cigarettes. The Business Council views any tax increases as damaging in this economy,” added Adams.
“The Business Council is also opposed to the inclusion of prior approval for health insurance rates in this proposal. This proposal is simply government price fixing and will damage the health insurance market,” said Adams.
“The Business Council supports the Governor's call for mandate relief to allow local governments to reduce spending. New York also needs a property tax cap to prevent a shift in the tax burden from the state level to the local level,” said Adams.
“New York's citizens need relief from an overwhelming tax burden caused by years of government overspending. It is the only way to create jobs and join in the national economic recovery. The Governor's budget proposal recognizes that New York cannot continue its chronic overspending. If the legislature adds taxes and spending to the final budget it will damage the state's chances of recovery,” concluded Adams.