Small business groups have had little to applaud in Albany in the last 10 years or so.
But Gov. Andrew Cuomo's $178 billion budget proposal includes a tax cut aimed at small business owners, a move the National Federation of Independent Business says is a necessary and welcome step.
At the same time, the group wants the tax cut to be expanded even further.
“Small businesses come in all shapes and sizes, but the burdens from state taxes and regulations are felt by them all,” said NFIB State Director Greg Biryla. “The governor’s proposal is a crucial step in delivering small businesses relief, and we are hopeful that he and the legislature are willing to take the next step to ensure Main Street’s businesses are as prosperous as those on Wall Street.”
Last week, 34 business groups, ranging from trade associations to chambers of commerce, backed the proposal and sought to highlighted an expanded package. In a letter, the groups pointed to a bill backed by Sen. Anna Kaplan and Assemblyman Robin Schimminger that is aimed at aiding small businesses.
And it's not all good news as far small businesses see it.
The budget proposal includes proposed prevailing wage provisions for some private development projects, paid sick leave and health care taxes that could all have a cost.
“New York taxes private health insurance more than anything else aside from income and property,” Biryla said. “Our members habitually identify rising health insurance costs, which are driven by taxes, as a chief obstacle. Enough is enough. No new taxes.”