“Governor Cuomo today struck a good balance with both a significant increase in the minimum wage and a reduction in the corporate tax rate on businesses with fewer than 100 employees. Over the last decade, small businesses have not scaled up in New York at the pace required to sustain economic growth, partly due to the high tax burden. The reduction in tax rates is an important step toward accelerating job creation and will help offset the payroll costs that will be incurred by employers in the small and low margin businesses that employ most minimum wage workers.” Read More →
“Governor Cuomo today named a roster of top talent for his second term, starting with Secretary Bill Mulrow, who has had a distinguished career in finance and is an alumnus of the Partnership for New York City’s David Rockefeller Fellows Program. Bill has a broad network of relationships in business and government that will certainly help the Governor advance his agenda. Bill has the knowledge required to deal with the tough economic and infrastructure issues facing New York State and will be a tremendous new resource for the Governor’s office and state agencies.”
“Following the House of Representatives’ swift vote yesterday to pass TRIA, the Senate took the right step today by passing this important piece of legislation. I want to thank Senator Schumer, Senator Gillibrand and other members of the Senate for voting for a measure that will help New York City and the country’s economy continue to grow. We now urge President Obama to sign the legislation into law as soon as possible.”
“I want to thank Speaker Boehner and the House of Representatives for displaying true bipartisanship by passing the Terrorism Risk Insurance Reauthorization Act, as well as Senator Schumer for his leadership on this issue. TRIA is important to the business community in New York City and throughout the nation as it allows employers and property owners to manage the risk of terrorism so that investments in American companies and enterprises can continue. With our economy finally starting to heat up, this critical public-private partnership arrangement makes continued growth possible. We urge the Senate to pass this important piece of legislation as swiftly as the House.”
The Partnership for New York City today delivered a letter signed by more than 60 of its members in support of Antonio Weiss’ nomination for Under Secretary for Domestic Finance. The letter was delivered to Chairman Ron Wyden and Ranking Member Orrin Hatch on the Senate Committee on Finance. It notes that Weiss is a “widely respected business leader who is known for his independence, integrity and understanding of financial markets” who has “significant financial-sector expertise” — which only a small proportion of the current senior leadership of the Treasury Department has.
“Financial services is our leading economic driver, employing 500,000 New Yorkers and generating $198 billion in annual economic output. The continued strength of this industry and New York City’s position as the global financial capital depends on clear and consistent laws and regulations that allow our financial institutions to compete effectively. This provision is necessary to ensure that regulation of derivative trading activity of US institutions is appropriate and practical. It merits bipartisan support from the New York Congressional delegation.”
NYC DOT, Alta and Citi Announce Agreement to Expand and Enhance Citi Bike Program in New York City
New firm and management to double the size of the nation’s largest bike share system to at least 12,000 bikes at 700 stations and in more neighborhoods by 2017
Jay Walder, former MTA Chairman and CEO, to serve as incoming CEO of Alta
Read original release here.