Legislation introduced by Senator Jim Alesi to provide greater resources to assist emerging businesses and to foster job growth passed the Senate today with overwhelming support. Senate bill 5782, introduced in consultation with Empire State Development, would make available millions of dollars to small businesses in New York State to encourage innovation and job creation.
Today Governor Andrew M. Cuomo signed into New York State law the property tax cap bill originally co-sponsored by Senator Jim Alesi. The new law (formerly Senate Bill S.5856) will cap school and local government taxes to less than a two percent increase or two percent of the Consumer Price Index (CPI), whichever is lower.
Comprehensive Plan Cuts Taxes for 4.4 Million New Yorkers; Reduces Taxes on Manufacturers; and Invests in Job Creation
Senator Alesi joined Senate colleagues yesterday to pass the Middle Class Tax Cut and Job Creation Plan that will reduce taxes for millions of hardworking, middle-class taxpayers. Passed with strong, bipartisan support, the comprehensive agreement will reduce the tax rate for middle class families to their lowest rate in more than 50 years and create thousands of private sector jobs. The plan will provide a total of more than $3.3 billion in tax relief to individuals and businesses.