O'Mara welcomes governor's emphasis on upstate manufacturing as centerpiece of 2014 tax cuts
Albany, N.Y., January 6— State Senator Tom O’Mara (R,C-Big Flats), who over the past several years has sponsored legislation and singled out the need for tax cuts to spark upstate manufacturing, today applauded Governor Cuomo’s emphasis on making tax relief for upstate manufacturing a top priority in 2014.
"We’ve been building momentum toward this action for several years and with Governor Cuomo’s support, this year’s session could really start to change the game for upstate manufacturing,” said O’Mara. “We know that high state taxes and overregulation are the key obstacles preventing sustained private-sector economic growth and job creation. We need these tax cuts to put our job creators, especially upstate manufacturers, on a competitive economic playing field nationally and globally. I look forward to working with the governor and my legislative colleagues to get this job done. It has the potential to revitalize upstate manufacturing.”
At an Albany news conference earlier today, Cuomo unveiled a broad-based, comprehensive tax cut plan that he’ll be pushing as a top-of-the-agenda issue in the 2014 legislative session that gets underway on Wednesday. The plan was first developed by a bipartisan Tax Relief Commission the governor appointed late last year and puts forth a range of recommendations for comprehensive business, income and property tax relief.
State senators, including O'Mara, also unveiled their own tax cut plan last November.
O’Mara singled out Cuomo’s proposals for upstate manufacturing as the most significant difference maker for the upstate economy. They include a 20-percent real property tax credit for manufacturers, the accelerated phase-out of the so-called 18-a utility assessment and, especially, the elimination of the corporate income tax on upstate manufacturers.
“These actions would immediately produce a more competitive business climate that invites private-sector job growth, welcomes businesses and industries, revitalizes upstate manufacturing and begins providing hope for long-term economic security for workers and families,” O’Mara said.