Reaction to New York state budget

“After a successful two years, New York is no longer known as the tax capital of the nation. Thanks to Governor Cuomo’s leadership, Albany now has an agreement on a third, on-time, fiscally responsible budget that cuts taxes for small businesses, helping them grow and create jobs, while also providing tax relief to working families. In addition, this budget invests in the economy of tomorrow by providing the initial funding for hot spots and tech transfer programs that will spur entrepreneurship in New York and encourage innovators to stay in New York. I applaud Governor Cuomo and the Legislative leaders for their commitment to making our state the business capital of the nation.” ~James Barba, Co-Chair of the Capital Region Economic Development Council “For the third year in a row, Governor Cuomo has led the passage of a balanced, ontime budget – and what will be an early budget for the first time in decades. Not only does this budget close a $1.3 billion budget deficit with no new taxes or fees, it also cuts taxes for the middle class to their lowest rates in six decades and provides tax cuts for small businesses, which will spur economic activity and development across the state. The Governor is also continuing to deliver essential mandate relief for localities like the City of Albany. Under his leadership, New York State is moving in the right direction with real fiscal responsibility – gone are the days of out-ofcontrol spending and endless tax increases. I thank the Governor and the state legislature for their hard work in reaching this budget agreement.” ~Albany Mayor Jerry Jennings “I commend Governor Cuomo and the Legislature for reaching an agreement on a fiscally responsible, on-time budget for the third year in a row. The passage of this budget proves that our state government is working for all New Yorkers by cutting taxes on middle class families and eliminating the Small Business Income Tax and Manufacturing Corporation Tax, and including new tax credits for employers that hire veterans or inner city youth. I look forward to working alongside the Governor and our representatives in state government to ensure that we continue to build a better, stronger New York.” ~Albany County Executive Dan McCoy

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