SENATOR FUSCHILLO VOTES TO REPEAL MTA PAYROLL TAX
Senator Charles J. Fuschillo, Jr. (R-Merrick) today voted in favor of legislation to repeal the MTA payroll tax. The legislation, which Senator Fuschillo cosponsored, was approved by the New York State Senate.
"Repealing the MTA payroll tax is essential to getting Long Island back on the right track for economic prosperity. The payroll tax, which I voted against, has devastated businesses, municipalities, non-profits, and schools. The Senate's passage of this legislation is the first step in repealing this burdensome tax. The Assembly should join the Senate in approving this legislation," said Senator Fuschillo, Chairman of the Senate's Transportation Committee.
Under the legislation (S5596A), the payroll tax would be phased out for all Long Island employers starting January 1, 2012. Long Island payroll tax rates would be reduced to .23 percent in 2012, further reduced to .12 percent for 2013, and fully repealed as of January 1, 2014. Long Island small businesses with 25 or fewer employees, as well as public and nonpublic schools, would be fully exempt from the payroll tax effective January 1, 2012.
The legislation is supported by the National Federation of Independent Businesses, The Business Council of New York State, Inc., The Long Island Business News, New York Farm Bureau, GrowPAC, The Empire State Chapter of the Associated Builders and Contractors, Long Island Cares, Inc., The Long Island Business Council, New York State Catholic Conference, the Nassau-Suffolk Hospital Council, Tax Relief Now, the Hauppauge Industrial Association, and several Chambers of Commerce.
Senator Fuschillo has also created an online petition which residents can sign to support the repeal of the MTA payroll tax and call on the Assembly to join the Senate in approving the legislation. Residents can sign the online petition by clicking here.
The legislation has been sent to the Assembly for consideration.