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Today the New York State Senate announced another plank of its “Jobs and Opportunity Agenda”. So far it has included significant measures not included in the Governor’s proposal, like unfunded mandate reform to reduce high property taxes.
Tax cuts targeted at small businesses and farms worth $495 million, was the largest relief proposal. Though this includes the idea of adding another component to a complex, inefficient STAR rebate program is not the best way to go about relieving property taxes for business.
More significantly the plan takes a swing at economic development programs that have sparked massive controversy and multiple corruption trials.
The Senate will propose to ending START-UP NY, stopping new applications after 2018.
The Senate has also stated that it will redirect the $44.5 million in advertising included in the Governor’s Executive Budget to support “more effective economic development programs.” Why not scrap the glitzy ad funding altogether?
In addition, the Senate plans to increase transparency by creating a public “database of all state subsidy and economic development benefits”. The agenda also states the Senate will create an Independent Oversight Panel for projects and state procurements of $50 million or more.
The Senate has also prioritized cutting red tape in its “Streamlining for Success” package to help make it easier to do business in the Empire State.
You can read more and review the Senate Majority’s proposals for yourself HERE. It’s your money that’s on the line.