The Business Council of New York State’s Response to FY 2020 Enacted Budget
Albany, NY – First, we congratulate the Governor, the Senate and the Assembly for making permanent the 2% property tax cap. The property cap, that we advocated for in 2011, has given homeowners and businesses alike substantial financial benefits and savings. Making the 2% cap on local governments and schools permanent is the culmination of the advocacy of The Business Council and others for the last eight years.
Additionally, we recognize that several problematic proposals were tabled in the budget process but are likely to be given further consideration in the post-budget session. These proposals, with the potential to adversely impact businesses and the state’s economic climate include expansion of prevailing wage mandates, MWBE modifications without meaningful reforms, drastic new provisions related to carbon emissions and renewable energy, excessive product/material disclosure mandates and others.
“It is critical that lawmakers have all the facts necessary when debating impactful legislation throughout the rest of this session, as each has the potential to be critically dangerous to current and future businesses in the State,” said The Business Council President and CEO Heather Briccetti Esq. “We will continue to advocate for employers throughout the state who have so much on the line with the proposals in Albany.”
The budget did include several expanded and extended tax credits supported by The Business Council, ranging from support for the in-state production of film and commercials, new credits to support employer-provided child care for their employees.
The final budget also included new funding for effective technology-oriented education programs and for workforce development and full funding of a $300 M environmental protection fund.
We are also thankful the final enacted budget protects about 26,000 students working toward their degrees within the proprietary college sector and will still remain eligible for federal financial aid programs such as PELL, TAP, and ETA. This was a protection The Business Council was fighting to preserve.
Unfortunately, the final budget agreement did include significant new or increased costs for business, including imposition of sales taxes on businesses’ energy purchases through ESCOs, a significant new tax on opioid sales, expensive new health plan coverage mandates and others. While we don’t yet know the impact of a new congestion pricing program on businesses doing business and transporting goods into lower Manhattan; we continue to advocate for exemptions based on consideration of tolls/fees already paid on a daily basis.
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