New York Has Worst Tax Freedom Day In Entire Nation
Theres bad, theres really bad, and then theres New York, which has the worst taxes in the entire country. According to the Tax Foundation, New Yorks Tax Freedom Day, which represents the time it takes to relieve taxpayers of their burden, is dead last in the U.S. Freedom for New Yorks hard-working taxpayers finally came today, May 3, which is more than two weeks after the national average. For those keeping score at home, its not déjà vu, New York was worst in the nation last year, too; meaning almost nothing has been done to make life for residents easier.
Its astonishing how little Gov. Cuomo and the Legislature have done to remedy the states massive spiral of economic failure. The recently-passed state budget actually includes $1.2 billion in new taxes for 2019-2020. Unsurprisingly, reports have indicated New Yorkers are fleeing in droves to places like Florida, which enjoys a far easier tax responsibility than New York, and almost all other states. Floridas Tax Freedom Day was April 3, a full month earlier than ours and third-best in the U.S. We simply cannot sustain ourselves at this pace and the fact is residents are increasingly jumping ship as legislative inaction has paralyzed New Yorks growth.
THE PROBLEMS ARE SYSTEMIC AND REQUIRE IMMEDIATE ACTION
Our business tax climate, also ranked by the Tax Foundation, is 48th in the U.S. CNBC also gave New York that same miserable ranking for business friendliness in an earlier survey. Year after year, New York misses the mark. Our Conference has committed to legislative solutions that will put more money back in the pockets of hard-working folks who want nothing more than to provide for themselves and their families, but we need our counterparts to open their eyes and get on board.
I have introduced SHOP NY (A.4558) to eliminate taxes on everyday necessities like gas, child restraint systems, protective helmets required by law, baby diapers, soap and toothpaste. Every little bit helps, and these are some things that the government has no business making any harder to obtain.
I have also introduced the Small Business Full Employment Act (A.4553) to provide tax cuts to support small businesses, reduce regulatory burdens on small businesses and prohibit any new unfunded mandates on local governments, school districts and small businesses, among other provisions. Inexplicably, the Assembly Majority blocked bill A.4177, which would have increased the Earned Income Tax Credit (EITC) from 30 percent to 45 percent for struggling New Yorkers.
Together, these measures would go a long way to cut down on the death by 1000 cuts New Yorkers are facing every day. Inaction is no longer an option. Im getting tired of coming in last place every year and quite frankly so are New Yorkers.
What do you think? I want to hear from you. Send me your feedback, suggestions and ideas regarding this or any other issue facing New York State. You can always contact my district office at (315) 781-2030 or email me at firstname.lastname@example.org.