For Release — June 18, 2010
Business Council says legislature should listen to Cuomo's rejection of new taxes
ALBANY— “Attorney General Andrew Cuomo has it exactly right when he says Albany must balance its budget by cutting spending rather than raising taxes,” said Kenneth Adams, president and CEO of The Business Council of New York State, Inc.
Cuomo told the Syracuse Post-Standard that he opposes taxing sugary drinks, cigarettes or borrowing to balance the state budget.
The Albany Times-Union recently estimated that the proposed sugar tax would raise the price of a 5 pound container of Kool-Aid drink mix from $5.88 to $18.10.
“Average New Yorkers understand what must be done: reduce state spending and cut the cost of government. For at least a decade Albany has spent more than New York taxpayers can afford. Now that must stop,” added Adams.
The Business Council points out that New York's budget would be $18.5 billion lower if state spending had simply kept pace with the rate of inflation since 1999.
“If Albany had spent at sustainable levels there would be no crisis. Raising taxes or borrowing to keep spending at levels New Yorkers cannot afford just means bigger deficits in the future,” said Adams.