Memo of Opposition S.7263-A.2208 (Foley-Brodsky)

NEW YORK, NY (07/01/2010)(readMedia)-- BALCONY, the Business and Labor Coalition of New York, today (Thursday) called on the New York State Legislature to reconsider legislation, S.7263-A.2208 (Foley-Brodsky), which would direct the Public Service Commission to impose burdensome new requirements when the Commission reviews business transactions by a telephone corporation.

BALCONY opposes this measure. What is most troublesome is that the proposed legislation contains conditions for givebacks (40%) for telephone providers, but does not address other utilities regulated by the Public Service Commission including electric and gas corporations, Cable TV corporations or water companies. So while policymakers call for the need to boost the state's economic development efforts by ensuring broadband services throughout New York, this ill-suited legislation would impose a burdensome premium on Wall Street investors and other important sources of revenue operating in the state.

The State of New York should rethink penalizing one of the few industries that has income to invest in our communities and its residents, driving broadband innovation and creating economic growth. BALCONY urges the New York State Legislature to have a discussion with the telephone companies to come up with a solution that meets everyone's needs.

BALCONY, the Business and Labor Coalition of New York, represents more than 1,000 New York businesses, labor unions, and trade associations. BALCONY seeks common ground in the public policy debate in New York to spur economic development through the adoption of business/union friendly, socially responsible common sense laws that maintain and improve the quality of life for working New Yorkers.