Assemblyman Kevin Byrne (R,C,Ref- Mahopac) is pleased to announce the Assembly Minority Conference has introduced the Jump-Start New York initiative to stimulate the economy and assist New Yorkers who have been affected by the COVID-19 crisis. Based off of the Small Business Emergency Recovery Act of 2020, which the conference introduced during the budget, this plan would provide both short-term relief and long-term stability for New Yorks small businesses and their employees. This plan includes directing money from the state and federal government to residents who have been affected the most by the crisis, loan programs, direct-cash infusions and financial reallocations.
While it's unlikely in the near future we will be able to return to life as we knew it only a few months ago, it is important we offer a promise of hope and a concrete plan for the regional re-opening of our state's economy in a safe and responsible manner, said Byrne. Our state has reacted to this virus for too long. One day we will move past this nightmare. It's crucial we have a proactive mindset to ensure that the businesses and their workers who have struggled throughout this pandemic get the necessary resources and support they need.
Jump-Start New York provides an important blueprint to assist in supporting these economic needs, while simultaneously remaining mindful of public health, Byrne continued. This initiative was pieced together through the hard work of many of my colleagues in the Assembly Republican Conference. I'd like to thank them for their vision and their tireless attention to detail in this proposal, which I openly support.
The National Federation of Independent Business (NFIB) has reported that 92 percent of small businesses have suffered due to the outbreak of COVID-19. NFIB has also stated that around 50 percent of small-business owners have expressed concern about requiring financial assistance within the next two months if they are to continue to operate after the pandemic is over.
On a state-level, some of the provisions proposed in the Jump-Start New York initiative include:
- Reevaluation of non-essential business that could potentially remain open and maintain proper social distancing practices immediately, ensuring public health and safety protections are properly in place;
- Re-purposing and utilizing programs, funds and councils, such as START-UP-NY, Regional Economic Development Councils and NY Works Economic Development Fund;
- Changing all state tax filing dates to be in alignment with federal tax filing dates which have been pushed back to July 15;
- Suspend all fees for occupational licenses for one-year following the end of the emergency period; and
- Waiving and/or extending state regulations which have been enacted by executive orders during declared state of emergencies for an extra year which include, but are not limited to:
- Allowing additional telehealth providers and other types of practitioners to deliver services;
- Allowing individuals and businesses licensed by the Department of State to extend the expiration of their license; and
- Waiving the earnings limitations for retired public retirees returning to work.
On a federal level, we are calling for the following:
- Extending benefits for the pandemic for an additional year to make the transition from an emergency period to a non-emergency period smoother for New Yorkers and the economy;
- Expanding all Small Business Administration loans, like the Paycheck Protection Program (PPP) loans, the 0% interest rate;
- Providing federal funds to businesses and individuals within 30 days of the passage of a stimulus bill; and
- Having future federal stimulus money be given directly to local governments and school districts to provide property tax and sales tax relief to help offset an increase in costs, along with the loss of revenue due to the COVID-19 pandemic.
Details for the Assembly Minority Conference's "Jump-Start New York" initiative may be viewed online HERE.