Cure-All For New York’s Economic Ailments

Legislative Column from Assemblyman Ken Blankenbush (R,C,I-Black River)

What if I told you that there is something that could truly revive the upstate economy, grow jobs and support hardworking families? You’d probably give me an incredulous look and wonder what kind of snake oil I’m selling.

The truth is that it really does exist, this cure-all for our lagging economy, weak job market and struggling families. That fix is meaningful tax relief. New York is the highest-taxed state in the nation, according to the Tax Foundation, and it’s killing our economy.

Our state’s taxes are quite complicated and much too expensive. New York’s tax code is weakening our ability to attract and keep businesses, jobs and residents. In the end, New Yorkers are left paying more and more for fewer opportunities.

While many of us can agree on the merits of the services our taxes pay for, at some point, lawmakers must recognize that taxpayers are no longer getting returns on their investment. Albany has placed more and more expenses on our communities to the detriment of the population.

New York has some of the highest income taxes in the country, which not only affects residents, but also job creators. Lawmakers have tried to fix this problem by throwing out tax incentives and one-shot fixes, but businesses are struggling, closing up shop and relocating to other states. While we must compete on a global level, we also are in competition with neighboring states that are more business-friendly and can lure companies and investments away from here.

Overall, New York must look for ways to provide tax relief to its residents. Doing so will reverse the damage done over the years by our ever-increasing taxes. We must continue to provide middle-class income tax relief, cut the taxes that kill jobs, and decrease the burdens placed on families.

Recently, the governor formed a Tax Relief Commission to review the tax structure in New York. This is a great step in theory, but we must make sure that action is taken on their suggestions. It would be a shame if the Tax Relief Commission suffered the same fate as the Mandate Relief Commission – all talk, no action.

We know how important tax relief is, and it’s been discussed over and over again. Now is a perfect time to act. I will continue my fight for real tax relief for New York’s families and businesses. We can’t afford any more quick fixes.

I’m eager to hear your thoughts on tax relief and the economy. Please call my office at 493-3909 or email me at blankenbushk@assembly.state.ny.us.