WHITE PLAINS, N.Y. -- The Business Council of Westchester supports the $138 billion budget for 2014-15 because of provisions to lower taxes on businesses and control state spending while investing hundreds of millions of dollars in economic development and job creation initiatives.
“Lowering taxes on manufacturers, phasing out the temporary utility tax and setting aside hundreds of millions of dollars for Regional Economic Development Councils are all sound strategies for improving the economy in New York,” said Marsha Gordon, president and CEO of The Business Council of Westchester.
“This on-time and bipartisan budget shows that when it comes to keeping our fiscal house in order and maintaining a strong bond rating, New York really means business."
The business council also supports:
- Cutting the manufacturing tax from 5.9 percent to zero: The council has long lobbied for Westchester to be included in such a provision and believes lowering taxes and burdens on manufacturers will give incentives companies already here to stay and grow, while encouraging others to move and relocate to New York.
- The accelerated phase-out of the 18-A utility tax surcharge, which is expected to go a long way to lower energy bills. It is expected to save New Yorkers and businesses $600 million over three years.
- The budget that allocates for $150 million in new capital and economic development funding and $70 million in tax credits for the Regional Economic Development Councils to ensure that the best and most innovative projects are prioritized throughout New York. In her role as a member of the Mid-Hudson REDC, Gordon will continue to advocate for the region and make sure that the best proposals are put forth and realized.
The business council continues to lobby lawmakers and advocate on behalf of members to ensure that businesses succeed and thrive in New York.