Sadly, many companies already confronted an unfriendly tax and regulatory local weather even earlier than the COVID-19 pandemic struck. Based on info from CNBC, New York was ranked poorly for its excessive value of doing enterprise (forty second), excessive value of residing (forty eighth) and lack of enterprise friendliness (forty ninth). Based on the Tax Basis’s State Enterprise Tax Local weather Index, the state is without doubt one of the three worst states within the U.S. in that regard.
“We should seize the chance to assist struggling New Yorkers and small companies recuperate from the devastating financial affect of this pandemic. The Meeting Minority Convention has by no means wavered in its try to supply aid and help to these hit hardest. As we search to emerge stronger and higher than ever, Albany should acknowledge the significance of delivering for the job-creators and hard-working people throughout the state,” mentioned Meeting Minority Chief Will Barclay (R,C,I-Pulaski). “Our Convention has additional developed a complete define that may instantly enhance the state’s financial local weather and supply a framework for long-term success and restoration.”
A few of the proposals the Meeting Minority Convention is advocating embody:
- Limiting the governor’s expanded powers and growing native authority throughout future emergencies;
- Implementing the “NY Enterprise Emergency Reduction Act of 2021” to direct all unallocated settlement funds and any additional settlement cash to enterprise aid functions;
- Using Regional Financial Improvement Councils for catastrophe restoration as a substitute of normal financial growth functions;
- Repurposing and using capital applications like these from state and municipal services, particular infrastructure, the New York Works Financial Improvement Fund and START-UP NY;
- Implementing a 180-day “regulatory amnesty” interval to permit small companies to treatment violations with out being subjected to fines or penalties;
- Establishing the Division of Regulatory Overview & Financial Progress (DRREG) to ascertain a framework to cut back regulatory burdens on companies;
- Offering a tax credit score to landlords for any lack of rental earnings as a consequence of actions taken to droop hire because of COVID-19;
- Growing rural web accessibility to make sure equality in entry to telehealth, distant studying and work-from-home capabilities; and
- Supporting New York farmers and agricultural companies by loosening regulatory bills and necessities, broadening eligibility requirements for funding and increasing markets to foster higher alternatives to maneuver their merchandise.
“The time to assist New Yorkers is now; the state of affairs was dangerous a number of months in the past and now it’s frighteningly dire,” mentioned Assemblyman Mark Walczyk (R,C,I-Watertown). “The plan put ahead by our Convention will instantly affect companies and their staff by providing aid for the injury they’ve endured and protections for the long run. We’ve got to collaborate with our state and federal governments to make sure residents throughout New York have the assets essential to proceed to dwell and work right here, and extra importantly – thrive.”
“Reforming New York’s harsh enterprise local weather and offering actual aid to overburdened taxpayers are important to rebuilding New York’s economic system,” mentioned Unshackle Upstate’s Zach Sampson. “Increased taxes and restrictive laws will solely damage our restoration efforts. Now’s the time to embrace pro-growth measures that can revive our communities and our economic system.”
“COVID-19 has pushed the small companies that outline and maintain neighborhoods and communities throughout New York to the brink,” mentioned Greg Biryla, NFIB’s Sr. State Director in New York. “Uncertainty is excessive, gross sales are down and new challenges emerge each day. There isn’t a silver bullet answer that alone will save our beloved Fundamental Streets; it should take a decided effort from all of our federal, state and native elected officers to implement artistic and novel options to this disaster. The New York State Meeting Republican Convention’s Soar-Begin plan contains a number of NFIB priorities – permitting small companies to soundly reopen and restore operations, stopping new unemployment insurance coverage taxes and redirecting financial growth program funds to supply direct aid to small companies – and we’ll proceed our arduous work to see they’re enacted as quickly as potential.”
A full copy of the plan is available here.
*Press launch from Meeting Minority Convention.