Rochester Senator Joe Robach applauded Governor Cuomo recent announcement that would be introducing a plan to enact a two billion dollars in tax relief for New Yorkers across the state that will work to stimulate the economy and create jobs. Under the Governor’s plan supported by Joe Robach, the proposals will “build on our previous successes including enacting the state’s first property tax cap and achieving the lowest middle class income tax rate in 60 years, increasing economic opportunity by further reducing taxes and attracting businesses to the state. (They will also) keep New York moving in the right direction, creating jobs, growing the economy and providing much-needed relief for struggling families.”
The specifics of this plan include a two year freeze on property taxes, provided the municipality stays within the two percent property tax cap and works to consolidate certain services with other municipalities, a property tax “circuit breaker,” a renters’ tax credit, estate tax reforms, a cut in business taxes that will work to treat businesses in New York more fairly, a real property tax credit for manufacturers, an elimination of the tax rate on upstate manufacturers, an acceleration of the phase out of the 18-A energy surcharge and an overall tax simplification.
The most helpful item of the tax relief plan, in the view of Joe Robach, is the elimination of the tax rate on upstate manufacturers. To encourage the growth of manufacturing Upstate, Governor Cuomo recommended that the State eliminate the corporate income tax rate for Upstate manufacturers. This proposal would provide an additional $25 million in tax relief for Upstate businesses and complement the proposal to reduce property taxes on manufacturers.