Albany, N.Y.—The Senate and Assembly have presented sharply different responses to the Executive Budget. While the Senate rejects new and increased taxes proposed in the Executive Budget and avoids further increases in state spending, the Assembly plan would increase total state spending about $2 billion beyond the Governor’s proposal, impose an across-the-board business tax surcharge, and adds up to $4 billion in increased income tax liability on high earners.
We appreciate that both the Senate and Assembly include provisions to avoid unintended state-level tax increases resulting from Federal tax reform. The Senate goes further than the Assembly, or Governor, to insulate state business taxpayers from these effects. We urge both houses, and the Administration, to commit to identifying and avoiding all such “backdoor” tax increases.
We look forward to working with both houses on shared priorities, including a realignment of the state’s workforce development efforts that better addresses the state’s skills gap, and a more workable approach to supporting MWBE contractors, among others.
The state continues to face real economic challenges, and The Business Council believes that it is imperative for state government to “live within its means,” without imposing new taxes on private sector employers.
- This statement is attributed to Heather C. Briccetti, Esq., president and CEO of The Business Council of New York State, Inc.