“Majority leaders have been unfolding this budget piece by piece, and every part unveiled is revealing more of their misplaced priorities which put our New York families last. Our residents are struggling and are scared. They don’t need policies that will hinder their ability to get back to work once social distancing is done. My colleagues and I offered an amendment to the budget, the Small Business Emergency Recovery Act of 2020, to help small businesses get their doors open and hire New Yorkers as soon as possible after this health crisis is over, but it was rejected by the Assembly Majority.

“New York is facing a $10 billion loss in revenue this year, but this budget still manages to create more pork-barrel spending for Majority Leaders and protects the governor’s pet projects worth hundreds of millions of dollars. There will be more budget bills to come, but so far it’s clear that New Yorkers aren’t being prioritized as they should.”

Editor’s Note:

The Small Business Emergency Recovery Act of 2020 was offered as an amendment to the budget revenue bill (A.9509-B) last night. The act proposes the following:

• Immediately direct the state’s settlement reserve fund of $890 million to small businesses;
• Create a zero percent interest loan program dedicated to helping small businesses meet their payroll commitments;
• Repurpose available tax credits to help the needs of the state’s existing small businesses;
• Use all economic development discretionary funding for existing small businesses within New York State;
• Move tax deadlines for remittance, business tax and personal income tax ahead 180 days;
• Suspend all regulatory fees on small businesses for 180 days; and
• Suspend the plastic bag ban for grocery stores for 180 days.