O’Mara: ‘End The Exodus' economic plan prioritizes tax and regulatory burden, population losses, affordability
January 26, 2022
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ISSUE:
- business economy labor
New York remains one of the highest-taxed states in America. We are one of the most overregulated states in the nation. Our local governments and local property taxpayers continue to foot the bill for one of the country’s heaviest burdens of unfunded state mandates.
Albany, N.Y., January 26—As state legislators begin setting priorities this week at the start of New York’s annual budget adoption process, Senator Tom O’Mara (R,C,I-Big Flats) and the Senate Republican Conference are advancing a comprehensive “End the Exodus” economic plan to put a spotlight on the overriding need to address high taxes, overregulation, and the high costs of living.
O’Mara led a news conference at the Capitol earlier this week where he and his colleagues unveiled the plan as part of the conference’s “Take Back NY” legislative agenda for 2022.
“New York remains one of the highest-taxed states in America. We are one of the most overregulated states in the nation. Our local governments and local property taxpayers continue to foot the bill for one of the country’s heaviest burdens of unfunded state mandates,” said O’Mara, who serves as the top Republican member on the Senate Finance Committee. “It’s no coincidence that our state led the nation last year in overall tax burden and population loss. Hundreds of thousands of our fellow New Yorkers are heading for the exits. New York is at a crossroads for our economic future, and we must enact our affordability agenda to meet the moment.”
Senator O’Mara’s opening and closing remarks at a news conference in Albany on Monday to unveil the “End the Exodus” plan can be viewed HERE and HERE, respectively.
As inflation spikes and gas prices continue to rise – and countless families and businesses leave the state for greater financial freedom and quality of life – the Republican priorities seek to reverse these destructive trends by increasing affordability and expanding economic opportunity in New York.
According to a just-released WalletHub ranking, “2022’s Best States to Retire,” New York ranks 48th overall and dead last, 50th, in affordability among all states.
O’Mara said that the “End the Exodus” plan includes numerous initiatives to focus on cutting New York’s highest-in-the-nation tax burden, reducing the overall cost of living in the state, and improving the state’s economic climate for business attraction and expansion, and job growth.
More details on the overall Senate Republican “Take Back NY” agenda can be found HERE.
