“Our organization has long advocated for lower taxes and today’s report by the Tax Foundation shows that New York has made some modest progress on that front.
Today’s report also provides a stark reminder that there is much work to do be done – especially on property taxes and taxes on small businesses. Taxes aren’t the only major threat to New York’s economy. A massive 67 percent minimum wage increase, which would lead to job losses, higher costs of goods and increased property taxes, will devastate small businesses and family farms, particularly Upstate.
Albany must continue to focus its attention on additional tax relief measures that will move New York up the Tax Foundation’s Business Tax Climate Index. That’s the type of progress that will truly make all of New York State a place where existing businesses can prosper and new ones will want to locate.”