Budget and Tax Reform Updates

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Testimony from April 30 public hearing of New York State's business taxes

On April 30, 2009, the Select Committee on Budget and Tax Reform held a public hearing in Rochester to weigh the fairness of New York State's Corporate Franchise Tax and the effectivess of its tax expenditures. The Select Committee heard oral testimony from six experts and collected written testimony from several other interested parties.

Below are links for the public hearing transcript and testimony that was submitted to the Select Committee. The Select Committee's staff will issue a report detailing the key findings and conclusions from the testimony.

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Transcript of April 30 public hearing

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Testimony from Ken Pokalsky of the Business Council of New York State

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Handout from Ken Pokalksky off the Business Council of New York State

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Handout from Ken Pokalsky of the Business Council of New York State

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Testimony from Jon Greenbaum of Metro Justice of Rochester

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Testimony from Judy Seil of the Monroe County Industrial Development Agency

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Testimony from Christopher Weist of the Rochester Business Alliance

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Testimony from Christopher Koetzle of the Support Services Alliance

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Testimony from Brian Sampson of Unshackle UPstate

May 18, 2009
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Select Committee video of public hearing on business tax reform

The Select Committee on Budget and Tax Reform hears testimony at a Rochester public hearing, where experts weighted the fairness of New York State's Corporate Franchise Tax and the effectiveness of its tax expenditures in spurring economic growth. The event was held on April 30th.

May 4, 2009
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SENATE HOLDS ROCHESTER HEARING ON CORPORATE FRANCHISE TAX REFORM

Fiscal Policy Institute, Unshackle Upstate, and others to testify on creating a fairer business tax code

April 28, 2009
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Select Committee video of public hearing on personal income tax reform

The Select Committee on Budget and Tax Reform hears testimony examining concerns over fairness and volatility in New York State's personal income tax system. The public hearing, which explored progressive changes to the personal income tax system, was held on March 12 in Albany.

April 24, 2009
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Staff Report to the New York State Senate Select Committee on Budget and Tax Reform on Exploring Progressive Changes to New York State’s Personal Income Tax System

The State Senate Select Committee on Budget and Tax Reform has received a staff report detailing the key findings and conclusions from its first public hearing on March 12. 

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Staff Report to the Select Committee on Budget and Tax Reform

April 24, 2009
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Testimony from March 12 public hearing on New York State's personal income tax system

On March 12, 2009, the Senate Select Committee on Budget and Tax Reform held its first public hearing in Albany to explore progressive changes to New York State's personal income tax system. The Select Committee heard oral testimony from 10 experts and collected written testimony from several other interested parties.

Below are links for the transcript of the public hearing and the testimony that was submitted to the Select Committee. The Select Committee's staff will issue a report detailing the key findings and conclusions from the testimony.

April 23, 2009
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Public Hearing: Exploring progressive changes to New York State’s personal income tax system

The recession and its strangle hold on New York State’s traditional revenue sources have exposed vulnerabilities and inequities in the state’s tax policy. New York State’s overdependence on tax revenues from Wall Street, coupled with the mounting financial pressures on middle-income households, have created an imperative for lawmakers to reassess how and where New York State pulls its revenues.

March 12, 12:00 PM - 4:00 PM
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Public Hearing: Public Hearing on Corporate Franchise and Bank Tax Reform

Evaluating the equitability of New York State’s business and banking tax structures and their effectiveness to foster economic growth statewide

May 21, 12:30 PM - 5:30 PM
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Public Hearing: Weighing the fairness of the Corporate Franchise Tax and the effectives of its expenditures

For years, New York State has taken a shoot-at-the-hip approach toward economic development in regard to its use of tax benefits. Their aim has been questionable. Their results, hit or miss.

April 30, 12:30 PM - 5:30 PM
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