Hugh T. Farley's posts related to Budget

SEN. FARLEY REPORTS 2014-15 STATE BUDGET INCLUDES FUNDING TO PROMOTE AND SUSTAIN AGRICULTURE AND FAMILY FARMING IN NEW YORK STATE

State Senator Hugh T. Farley (R, C, I – Schenectady) reported the New York State Senate passed a state budget that provides millions to support and strengthen New York State’s leading industry – agriculture. The 2014-2015 state budget includes $8 million in new budget funding, the highest level in six years. Funding will go to farming programs and initiatives, as well as towards research, education, and agriculture promotion throughout New York State.

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SEN. FARLEY REPORTS 2014-15 BUDGET PROVIDES ALMOST $5 BILLION IN PROPERTY TAX RELIEF

State Senator Hugh T. Farley (R, C, I – Schenectady) reported there will be property tax relief from the 2014-15 state budget, including a record amount of funding for the STAR program -- $3.4 billion -- and $1.5 billion in relief over the next three years from a new property tax freeze program.

* New Property Tax Rebates – The new property tax rebate program would provide direct relief to taxpayers in school districts and municipalities that stay within the two percent property tax cap and submit efficiency plans to the state that result in local cost savings of at least one percent or have already implemented cost reduction plans at the local level.

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SEN. FARLEY REPORTS 2014-2015 STATE BUDGET MAKES INVESTMENTS IN HIGHER EDUCATION

State Senator Hugh T. Farley (R, C, I – Schenectady) reported the New York State Senate passed the 2014-15 State Budget which includes major investments in New York’s higher education system. Aid includes support for the Tuition Assistance Program, public and private universities, and community colleges across the state.

The budget increases base aid support for community colleges by $75 for each full-time equivalent student, which represents a total increase of $15.1 million for SUNY and CUNY community colleges.

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SEN. FARLEY REPORTS 2014-15 STATE BUDGET CUTS TAXES TO CREATE NEW JOB OPPORTUNITIES FOR ALL NEW YORKERS

State Senator Hugh T. Farley (R, C, I – Schenectady) reported the 2014-15 State Budget, approved by the State Senate, includes significant tax relief to businesses to encourage them to grow and create new job opportunities for New Yorkers.

Highlights of business tax reductions include the following:

Lower Taxes on Manufacturers – The budget includes major new tax cuts for manufacturers throughout the state, helping them reduce costs and compete more effectively. It eliminates the following: corporate tax calculations for manufacturers the business income tax, which is lowered from 5.9 percent to zero for all manufacturers in 2014 and thereafter; the capital base, and the alternative minimum tax.

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SEN. FARLEY REPORTS 2014-15 BUDGET EXPANDS ACCESS TO QUALITY HEALTH CARE, INCREASES EPIC FOR SENIORS

State Senator Hugh T. Farley (R, C, I – Schenectady) reported the New York State Senate passed a 2014-15 state budget that will provide record support for a wide array of lifesaving health care services in communities across the state. Among the provisions in the budget are billions of dollars to ensure quality hospitals and nursing home facilities, funding for women’s and family health initiatives, a significantly expanded EPIC program to help our seniors afford their prescription medications, and new legislation to help eliminate “surprise” out-of-network medical bills.

Investments in Health Care Facilities and Patient Care

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SEN. FARLEY REPORTS SENATE PASSES EDUCATION BUDGET PROVIDING $1.1 BILLION INCREASE IN SCHOOL AID

State Senator Hugh T. Farley (R, C, I – Schenectady) reported the New York State Senate passed the 2014-15 education budget that will increase school aid by $1.1 billion, bringing total support for public schools to $22.1 billion. The 2014-15 State Budget distributes school aid fairly and equitably across the state, will help reduce pressure on local property taxpayers, provides additional support for charter schools and for early education programs, and makes important changes to address serious concerns raised about the Common Core program.

Education highlights of the 2014-15 State Budget include the following:

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