Tag Archives: State Budget

Business Council Statement on New York State Budget

Today, The Business Council of New York State issued the following statement from President and CEO Heather C. Briccetti, Esq. on the New York State Budget

“For the fourth year in a row, the budget reflects a plan to control spending — keeping it at less than two percent — illustrating the commitment of Governor Cuomo and New York’s legislative leaders to keep New York on the path to prosperity.

“The broad-based tax reductions and reforms included in the budget — the most significant New York has seen in decades — will improve our tax climate relative to other states and promote investment and jobs in key economic sectors throughout the state.

“By adopting key tax reform measures — including modernizing and restructuring the corporate franchise tax, reforming bank taxation, reducing the corporate franchise tax rate to 6.5 percent, adopting the 20 percent real property tax credit for manufacturers, and others — New York will provide employers with approximately $560 million in tax relief that can be reinvested in the economy. This will allow companies to better keep jobs and resources in New York that benefit communities across the state.

“Significant reforms to the state’s estate tax law, eventually matching the federal exemption, will eliminate the estate tax for many small businesses, farm owners, and homeowners alike, avoiding business disruptions and reducing the incentive to migrate out of New York.

“Although the budget makes adjustments to the implementation of the Common Core, The Business Council was pleased to see it preserves the new, more rigorous standards that are crucial to ensuring students graduate college, and career, ready.

“Additionally, the sustained funding for New York’s tourism industry will help continue the momentum of the past few years, investing in an economy that boosts jobs and economic growth.

“The final budget agreement is overwhelmingly positive for the state’s economic climate. We look forward to continuing our work with the Governor and Legislature to continue to grow job opportunity and the economy in New York.”

Final New York state budget needs to grow jobs and economy

As the Governor and New York State Legislature progress in final budget negotiations, The Business Council of New York State, Inc. is calling for a final state budget that boost jobs and New York’s economy.

“Job creation and economic growth are key to building strong communities in New York,” said Heather C. Briccetti, Esq., president and CEO of The Business Council of New York State, Inc. “Continuing to restrain spending, implementing broad-based tax reform and mandate relief need to be a priority for a final state budget.”

The Council also debuted a new ad, “Help New York’s economy grow,” focusing on how tax cuts will help improve New York’s economy. Watch the ad below.

[youtube height=”HEIGHT” width=”WIDTH”]http://www.youtube.com/watch?v=K5XYdVo6UeQ&feature=youtu.be[/youtube]

Business Council Vice President of Government Affairs Ken Pokalsky’s letter to the editor was published in the Albany Times Union. Read his letter that outlines how increasing taxes won’t help create jobs in New York how tax cuts would help create a more competitive economic climate to generate good-paying jobs and healthier communities.

A study earlier this year by The Public Policy Institute of New York State, Inc. (PPI), “Analysis of Economic Impacts of New York Corporate Income Tax Reform,” showed that when the tax reforms are fully adopted, major business and employment sectors will grow including construction, trades and business service sectors, manufacturing, and financial services.

Among the other issues of concern to The Business Council in a final state budget: Paid Family Leave, Out-of-Network Mandates, Energy Tax, Campaign Finance Reform, Brownfields, and education and tourism funding. Read more on The Business Council’s website.

Video: Ken Pokalsky, Brian Sampson and Mike Durant on New York NOW

Ken Pokalsky, vice president of government affairs at The Business Council, appeared alongside Brian Sampson, executive director of Unshackle Upstate, and Mike Durant, the New York State Director for NFIB, on WMHT’s news program New York Now. The roundtable discussion led by Casey Seiler of the Times Union focused on their reactions to the state budget and their hopes for the remainder of the legislative session.

Watch Air Quality Concerns in WNY on PBS. See more from New York NOW.

Paterson weighs in on state budget

Former Governor of New York, David Paterson weighed in today on the new state budget in an op-ed that appeared in the Albany Times UnionHe says the new budget restores faith in government but expressed disappointment that marijuana laws in New York were not reformed to stop “the injustice of stop and frisk”.

Read ‘Cuomo’s budget paradigm’ on the Times Union website. 

Business Council statement on the new state budget

The New York State budget was passed late last week.  Read our full statement below from Heather Briccetti, president and CEO of The Business Council of New York State, Inc.:

“For the first time in three decades New Yorkers are seeing the passage of three consecutive on-time budgets. Governor Cuomo, the State Senate and the State Assembly have once again worked together to produce a budget that limits spending to less than 2 percent while closing a $1.3 billion gap between projected revenues and spending – which the Business Council strongly supports.

This budget includes a number of tax incentives and reforms that The Business Council advocated for, including the phase-in of a 25 percent reduction on the corporate franchise tax rate on manufacturers. It also includes unemployment insurance reforms which will provide much needed stability to the unemployment system and give businesses a clearer way to manage their unemployment insurance costs, while restoring the state’s Unemployment Insurance Trust Fund to long-term solvency.

The budget also adds to the cost of doing business by extending assessments on electric, natural gas and steam energy (a total of $1.5 billion), and by increasing the minimum wage – a measure whose impact will be felt by many businesses, with total cost estimates as high as $2 billion per year. Though the budget includes a minimum wage tax credit for students that mitigates the adverse impact on employers, The Business Council would have preferred a straightforward training wage. And, while the final agreement on both of these measures is an improvement over the original proposals, they are not consistent with a strategy to promote economic growth and the creation of good-paying jobs.

We look forward to continuing our work with the Governor and Legislature to stabilize and improve New York’s economy while creating new jobs.”

– Heather Briccetti, president and CEO of The Business Council of New York State, Inc.

TU’s Casey Seiler: Senate debate on final bills “get weird”

You’ve got to hand it to Casey Seiler, the Times Union state editor. He hung in there long enough in the wee hours of Wednesday  to hear the Senate’s debate on the final set of bills of the state budget.

Read Seiler’s take on the Senate’s passage of budget bills in the dark of night, a night only a vampire could love.