Coalition and Lawmakers Call on Governor, Legislature to Close Corporate Tax Loopholes

Seek Level Playing Field for Small Business and Restoration of Vital Public Services

ALBANY, NY (01/29/2013)(readMedia)-- A large coalition of community, labor, faith and Occupy organizations are joining forces to announce their campaign to bring fairness and transparency to New York's corporate tax system. The organizations, who have successfully worked together on the "Millionaires Tax" and personal income tax reform, are calling on Governor Cuomo and the Legislature to close corporate tax loopholes, raising nearly $1 billion dollars for this year's state budget.

The additional revenue could help New York create jobs, create a fairer environment for small businesses, prevent more devastating budget cuts to state/local services and our safety net and allow for restorations of reduced funding.

The groups applaud the Governor for beginning the work of closing corporate tax loopholes in his budget proposal but insist we can and should do more.

WHO:

 Assemblymember James Brennan

Assemblymember Barbara Lifton

Andrew Pallotta, Executive Vice President, NYSUT

Susan Kent, President, Public Employees Federation

Frank Mauro, Fiscal Policy Institute

Ron Deutsch, New Yorkers For Fiscal Fairness

Michael Kink, Strong Economy for All

Colin Donnaruma, Occupy Albany
WHAT:

 The Coalition is proposing numerous reforms to NYS Corporate Tax Code including:

• No Tax Subsidies for Companies that Outsource Jobs

• No Free Lunch for Big Multi-State & Multinational Corporations

• Tax Breaks for Creating Jobs — Not for Eliminating Them

• Press “Pause” on Tax Cuts and Impose Gap Elimination Adjustments for Corporate Tax Breaks

• Tax Fairness for Romney-Style Investors

WHEN: Wednesday January 30, 2013 at 12:00PM Eastern Time (US & Canada)
WHERE: LCA Press Room
Concourse level of Legislative Office Building
Albany, New York
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