Business council attacks state budget
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- April
- 3
Businesses in New York will have a harder time recovering from the recession than other parts of the country because the proposed state budget burdens companies and consumers with higher taxes, a Westchester County business group said.
The Business Council of Westchester, one of the county’s largest business organizations, said that budget’s $7 billion in new taxes and fees represent the largest tax hike in New York state history.
“At a time of economic crisis and severe hardship for the state’s residents and businesses, our leaders in Albany have cut a budget deal that is being balanced on the backs of our businesses and their employees,” said Chris O’Callaghan, senior director at Cushman & Wakefield and chairman of the Business Council’s board of directors.State senators continued to vote today on a series of bills to enact the $131.8 billion budget for the fiscal year that began Wednesday, according to the Associated Press. The plan would raise overall spending by nearly $10 billion and close a funding gap through the new taxes and $6.2 billion in federal stimulus money.
“All New Yorkers should feel outraged by this budget,” said Marsha Gordon, president and chief executive of the Business Council. “Albany has missed a golden opportunity to change the way it does business. Instead of embracing lower spending and real fiscal reform, our leaders have chosen a path that will make our state less competitive.”
New taxes on utility bills, health insurance, beverages and other items will mean higher prices for consumers and make it harder for the state to dig out of the recession, according to the business council.
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on Friday, April 3rd, 2009 at 4:18 pm by Jay Loomis.
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