Assemblyman Angelo Santabarbara (D-Rotterdam) announced that the 2013-14 state budget takes significant steps toward creating a more affordable and welcoming New York. It closes a $1.4 billion budget gap, invests in critical job creation programs and cuts taxes for middle-class families and small businesses.

Keeping NY affordable for hardworking families

The 2013-14 state budget extends the current tax rate first implemented in 2012, locking in the lowest tax rate for middle-class families in 60 years, and it includes funding for a $350 tax rebate check for families who have a child under the age of 17 and earn between $40,000 and $300,000 annually. The rebates are part of a wave of tax relief aimed at helping middle-class families across the state.

“Middle-class families need tax relief,” Assemblyman Santabarbara said. “We were able to extend tax breaks for hardworking families for an additional three years, which will put more money back in their pockets and go a long way towards making New York a more affordable place to call home.”

Creating new jobs and building a stronger NY

To promote job growth while rebuilding our crumbling infrastructure, the state budget includes $438.1 million for the Consolidated Local Street and Highway Improvement Program (CHIPs). This 21-percent increase is the first in five years and $75 million more than last year, and it will come as a welcome relief to local taxpayers and municipalities as well, noted Assemblyman Santabarbara.

“Innovative job creation, in conjunction with tax breaks included in the budget, should help speed the recovery and progress we’ve begun to make over the past few years,” Assemblyman Santabarbara said. “Repairing roads and bridges will help boost our regional economy and strengthen our infrastructure, while taking the burden off local taxpayers who would have to foot the bill for these repairs down the road.”

Santabarbara also stated that he fought to include a phase out of the 18-A utility assessment surcharge for the business community because high energy costs often deters business from locating in New York.

Additionally, the budget provides a veteran’s tax credit for businesses that hire veterans. For taxable years 2015 and 2016, this credit would be worth 10 percent of the wages paid to a qualified veteran during the first full year of employment or 15 percent of the wages if the veteran is disabled.