O'Brien applauds innovative tax cut plan in Unshackle Upstate's "New Economic Revitalization Agenda"
ROCHESTER, N.Y. – Senator Ted O'Brien expressed his support today for a broad range of tax relief proposals for Upstate New York detailed in Unshackle Upstate’s "New ERA" (Economical Revitalization Agenda) plan. The plan aims to energize the upstate economy and significantly relieve the tax burden on middle and working class families and small businesses.
"Helping small businesses create new jobs, making sure that hardworking families can afford to stay in our communities and growing our region's economy are my top priorities as a legislator -- not to mention some of the toughest challenges Upstate New York currently faces," said Senator O'Brien. “If we’re going to give middle and working class people an opportunity to succeed, we need to take bold action to usher in a new era of job creation and economic prosperity.”
The "New ERA" plan includes a 25 percent cut to state income taxes for upstate residents making less than $50,000 and would phase out the Corporate Franchise (Article 9-A) business tax completely over the course of four years.
The plan would also accelerate the end of the 18-A energy surcharge for upstate manufacturers, a tax that Senator O’Brien fought against in budget negotiations earlier this year. This would help address the high electricity bills that have challenged efforts to attract high-tech industry to the region.
These actions would reduce upstate businesses' and families' tax bills by almost $700 million in the first year alone.
"We must reduce the tax burden that is stifling economic opportunity in Upstate New York," said Senator O'Brien. "As we work carefully and responsibly to revitalize Rochester and the communities of the Finger Lakes region, targeted tax relief aimed at Upstate New York is exactly what is needed.”
Sen. O’Brien represents the 55th district in the Senate, which is made up of the eastern half of Monroe County and the western half of Ontario County, including much of the city of Rochester.
Unshackle Upstate is a bi-partisan coalition of over 80 business and trade organizations representing upwards of 70,000 companies and employing more than 1.5 million people. Its members hail from across Upstate New York and have one goal: To achieve reforms in Albany that make Upstate New York a stronger place to do business.
Thomas J. Morrisey
office: (585) 218-0034