Too many of our young people are leaving our communities because they do not think our state will provide them with the kind of careers they want or provide a good living for their families.
I realize that we need to do everything possible to give businesses the opportunity to succeed and create jobs. That is why the Senate passed a small business assistance package that will help encourage young people and families to stay in New York because they will see opportunities and a future here. It represents pro-growth, pro-job policies that will lower taxes and provide new economic incentives.
The legislation provides $590 million in assistance in State Fiscal Year 2007-08 and almost $1.3 billion in tax relief when fully implemented after three years.
I am fighting to do everything possible to give small businesses the opportunity to grow and to create new jobs in New York State. The Governor’s proposed budget does not include any tax relief or assistance to help small businesses grow and create jobs.
Just as small businessman have a can-do spirit to succeed, we need a can-do spirit to help them. The package eliminates the corporate income and franchise tax for manufacturers, provides direct property tax relief checks to small businesses and provides tax credits to small businesses to help combat rising energy costs.
The Senatehas initiated tax cuts and reductions that have provided taxpayers with a cumulative savings of $126 billion. This package would build on the Senate’s record by targeting small business job growth, and I will continue to work hard to deliver a result that pays off for businesses, jobs and our economy.