SENATOR GREG BALL SPEARHEADS MINIMUM WAGE HIKE, PAIRED WITH JOBS BILL
Unveils “Jobs & People Smart Package” to Help both Employers and Employees
Mt. Kisco, N.Y. – 10/05/2012 – In an attempt to cut through the clutter and lead from the front, State Senator Greg Ball (Patterson – R, C) today introduced a comprehensive jobs bill paired with an increase in the minimum wage, which hasn’t been increased since 2005.
“Albany is in stalemate between those who want a minimum wage hike and those who want a tax cut for businesses. We can do both, and we should, but any hike in the minimum wage must be paired with an equally compelling tax cut package for small business owners. My comprehensive package increases the minimum wage while also cutting taxes on small business owners by 20% and fully repealing the MTA payroll tax. If we can avoid the politics and work together, we can take care of both the employee and the employer,” said Senator Greg Ball.
Senator Greg Ball is introducing and calling for the swift passage of his proposed “Jobs & People Smart Package” that will enable local businesses to provide better pay to their employees through a raise in the minimum wage while they receive needed support to jump start their businesses for long-term growth.
“We currently live in very rough times and hard working New Yorkers are in desperate need of a raise while local businesses are struggling to keep their doors open,” said former Mt. Kisco Mayor, Patricia Reilly. “The package that Senator Ball has introduced is a wonderful, bi-partisan way to satisfy both employees and employers by increasing the minimum wage while cutting taxes on businesses and creating tax incentives for job creators.”
Senator Ball, remaining consistent with his earlier position said, “Increasing the minimum wage makes sense, but only when paired with a package to smartly cut taxes on the job creators, small business owners. Among low-wage workers, more than 55 percent are women and many are single moms and the head of the household with one income. In fact, two out of every five people earning minimum wage provide the only income in New York. But if we increase the minimum wage without reducing the costs and taxes on small businesses, we may actually see many business owners forced to lay off workers. This tax cut package is critical therefore in avoiding those unintended consequences.”
Senator Ball’s “Jobs & People Smart Package” combines a raise in New York’s minimum wage with a strong dose of needed tax cuts, tax credits and a total repeal of the MTA Tax for local businesses. The bi-partisan comprehensive “Jobs & People Smart Package” includes:
- Increase New York’s minimum wage from $7.25 to $8.50 per hour.
- Eliminate taxes on New York manufacturers over three Years, providing $495 million in tax relief.
- 20% Corporate Tax Cut for Small Businesses, saving over 50,000 small businesses $49 million.
- Create a 10% Personal Income Tax Credit for Small Businesses: Saving 800,000 small businesses $80 million.
- Major Energy Tax Cut: Accelerating the phase-out of the 500% energy tax hike Senate Democrats previously approved.
- Give businesses a tax credit of up to $5,000 for each new job they create.
- Give businesses a tax credit of up to an $8,000 credit if the new job goes to someone on unemployment.
- Give businesses a tax credit of up to a $10,000 credit if a business hires a returning military veteran.
- Full repeal of New York’s MTA Payroll Tax
“At a critical time when hard working New Yorkers need a well-deserved raise and when local businesses need our help to survive this tough economy, we will now have a bill that will satisfy all stakeholders,” said Senator Greg Ball.
For more information or to speak with Senator Ball, please contact Joe Bachmeier at (845) 200 9716.