McDonough: Tax Reform & MTA Payroll Repeal Good For LI Families, Businesses
Legislative Statement by Assemblyman Dave McDonough (R,C,I-Merrick)
Returning to Albany this week was an opportunity for lawmakers to come together and pass a meaningful and fair tax plan which will put more money back into the pockets of middle-class taxpayers. Equally as important was addressing the unfair Metropolitan Transportation Authority (MTA) payroll tax. In the midst of historic gridlock in Washington, state legislators demonstrated bipartisan support to reform and repeal some of the most burdensome taxes and fees imposed in recent years. Today’s legislation also works to promote economic development initiatives and new infrastructure projects. I continue to stand committed to legislation that ensures New York retains its competitive edge. I was proud to vote yes for the good of our community today.
The partial rollback of the MTA payroll tax is especially important to Long Island. Senator Fuschillo, Senate Majority Leader Skelos and I have repeatedly called for the end of this job-killing tax. The agreement to rollback this tax signals an opportunity for local businesses to put more of their hard-earned money toward investment, expansion and hiring, and that Albany is serious about economic growth.
While these are important steps in New York’s road to recovery, proposals for long-term solutions to cure Albany’s spending addiction were absent. Albany does not have a revenue problem: it has a spending addiction. It’s time the state Legislature recognized this and passed a state spending cap. A spending cap, along with mandate relief for our local schools and municipalities, would help the private sector create jobs and lower property taxes for millions of hardworking New Yorkers.