GNYADA President Urges Restraint on Taxes

GNYADA President Mark Schienberg joined 250 CEOs this week in calling on top state leaders to not raise taxes this year.

Last week, state Democratic lawmakers released proposed budget plans calling for billions in revenue increases. This news came despite the delivery of massive federal aid to the Empire State Plaza, which essentially closed New York’s Budget gap for the year. And just this week, the state Budget Director announced the state found $5 billion in additional revenue, further reducing the need for revenue enhancements.

Mr. Schienberg signed onto a letter with other business executives, who wrote that they “are not alone in this view” that tax increases pose a danger to the economy. The letter notes that “the nonpartisan Citizens Budget Commission has said these tax increases are ‘both unnecessary and economically risky.’” The State budget deadline is April 1st.