Local Businesses, Homeowners Encouraged by Proposed Tax Reforms
Central New York business leaders and homeowners are publicly expressing their support for Governor Cuomo’s $2 billion tax relief plan. They joined government officials Wednesday to urge the state legislature to approve the proposal. DeWitt Town Supervisor Ed Michalenko says the business community isn’t used to such a friendly atmosphere in tax decision-makers.
Michalenko said that the new industry tax incentives make him hopeful that towns like DeWitt can maintain the remnants of their local manufacturing enterprises, as most industry has cleared out over the years. The governor’s plan reduces or eliminates a series of business taxes, and also gives homeowners a tax break as long as their local governments stay within a two percent spending limit.
Bob Delorenzo and his wife Sarah live in Clay with their newborn son. Bob says every penny counts for families like his, who may be forced to consider moving elsewhere because of tax expenses:
CenterState CEO President Robert Simpson said that now is the time to consider tax reform. He says production overseas is starting to return to the United States, as the economy stabilizes and socio-political risk is comparatively lower than China and Vietnam. Still, he says New York is in competition with 49 other states to attract that returning industry, and it needs to create an environment friendly to business growth.