A Tale of Two Reports

Yesterday, the Tax Foundation praised the recently enacted tax reform in New York.  The lowering of the corporate tax rate has rapidly moved the state up the charts.  So mission accomplished right?  New York is now competitive and “open for business”!

Not so fast.

Also released yesterday was the American Legislative Exchange Council (ALEC) annual “Rich States, Poor States” business climate analysis.  Guess where New York ranks…dead last.  Now to be fair, this analysis is looking at 2013 and does not take into account the recently enacted tax reforms.  But as we stated repeatedly, a corporate only approach to tax reform was going to leave many small businesses clinging to an unaffordable status quo.

The tax cuts that the Governor and lawmakers enacted this year are pretty narrowly tailored for manufacturers and corporations, and while NFIB/NY supported the plan, this report from ALEC should be a reminder to Albany that we’ve got a long way to go before we’re really competitive.

Frankly, until our leaders in Albany recognize that punishing income means punishing work, we’re going to remain at the bottom.  Small businesses mostly pay the income tax, not the corporate tax, and on that side of the ledger we haven’t moved the needle.

A  real economic program would seek to reduce taxes for everyone instead of picking winners and losers.  Unfortunately for small business, Albany hasn’t positively impacted them much at all recently.

About these ads

About Mike Durant

Mike Durant was named New York State Director of NFIB in May 2011. Prior to joining NFIB as the Assistant State Director in May 2010, Durant began his career in the New York Senate working in the Office of Member Services. From there, he served in a number of positions during former New York Governor George E. Pataki’s administration. As a Research Specialist in the New York State Office of Demographic Policy, Mike was responsible for drafting a redistricting proposal for Governor Pataki. In addition, Mike served as a Research Specialist for the Empire State Development Corporation, as well as the Associate Commissioner of Human Resource Management with the New York Department of Labor. Durant also spent four years working at the Questar III BOCES as a specialist focusing on the complex formulas that drive aid to school districts across the state while also taking a lead role in the state legislative/budget process as it related to education policy. These past positions have given Mike a deep understanding of the complex political economics of the State of New York. Active in the community, Durant has served on a number of boards in both the village of Ballston Spa and Town of Milton. Durant received his bachelor’s degree from Siena College in Loudonville, New York and resides in Ballston Spa with his wife and two children.
This entry was posted in New York, Small Business, Taxes. Bookmark the permalink.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s