Business Council Statement on Governor Cuomo's Tax Relief Proposal

ALBANY, NY (01/06/2014)(readMedia)-- Statement from Heather C. Briccetti, Esq., President and CEO, The Business Council of New York State, Inc.

"The Business Council applauds Governor Andrew M. Cuomo's tax relief proposal that will provide more than $2 billion in savings to New York employers and residents. This is big news for the state's economy, especially upstate, as this package will provide broad-based business tax relief, and support key business sectors across New York. The importance of the tax relief component for manufacturers cannot be overstated. The loss of manufacturing jobs is one of the main reasons the upstate economy has struggled. This is an important step in the right direction for upstate, and New York as a whole.

"The significant restructuring of the corporate franchise tax, broad-based business tax rate reductions, and expedited business relief from the Section 18-a energy assessment will also improve the state's economic competitiveness and help the economy grow.

"Having served on the Governor's Tax Relief Commission, it is especially rewarding to know that the Commission's recommendations will be featured in his executive budget."