Partnership Statement on NYS Legislature’s Budget Proposals

“Both houses of the New York State Legislature issued budget proposals yesterday that reject Governor Hochul’s plans to accelerate development and preservation of affordable housing, hold the line on most taxes, expand charter schools, and fund the MTA through a payroll tax that all employers in the region (public and private) contribute to,” said Kathryn Wylde, President and CEO of the Partnership for New York City. “The business community generally supports the governor’s approach to these issues and trusts that negotiations will lead to a final budget that reflects the key concerns of New Yorkers, which are public safety and affordability. Taxes in New York are already the highest in the country and a major contributor to the high costs of living and doing business here. Democratic governors of Connecticut, New Jersey, and Massachusetts are all proposing to reduce taxes this year, demonstrating that New York could be headed in a direction that will make the state less competitive for talent and business investment. We urge the governor and legislators to consider ways to reduce spending and we offer the expertise of the business community to help in that process.”