Statement from The Business Council & New York City Business Community on State Senate and Assembly One-House Budgets
“New York City’s business community stands united in strong opposition to tax increases as part of the State budget under negotiations. New York is the highest tax and spending jurisdiction in the country and New Yorkers already pay among the highest individual, business, and property taxes. This is particularly true in New York City, which is home to the nation’s highest individual, business, and real estate tax rates. The Governor's Executive Budget prudently recognized this reality. The legislative one-house budgets do not. These ill-advised proposals will only make it harder for families and businesses to live and grow in New York City, deter investment, and continue New York’s electoral decline due to its tax and fiscal policies.”