By State Sen. Jim Tedisco
New York state needs a New Year’s resolution and stick to it to go on a diet from taxation, spending, borrowing, mandating and regulating to turn our state’s economy around and truly open the state for business.
Since 2010, more than 1 million people have left New York state—over 190,000 people in just the past year, according to the U.S. Census Bureau. New York ranks 48th in the nation for Tax Freedom Day, when people symbolically pay off all of their federal, state and local taxes and start taking home their paychecks to pay necessary things like mortgage, health care, tuition and food.
Much of the research shows that New York has one of the worst environments in the nation for the development and growth of small businesses and jobs. And recently, to add insult to injury, New York was picked as one of the worst places to retire.
Though we’ve taken some positive steps by passing the property tax cap to put a lid on out of control property tax increases, limiting the rate of Medicaid growth costs for local governments, and capping state spending to no more than 2 percent, there are still miles to go to keep New York working and open for business.