BCW Backs New York's $138 Billion Budget

WHITE PLAINS, NY (March 31, 2014) – The Business Council of Westchester supports the $138 billion budget for 2014-2015 that Gov. Andrew M. Cuomo and lawmakers are poised to approve today because of provisions to lower taxes on businesses and control state spending while investing hundreds of millions of dollars in economic development and job creation initiatives.

“Lowering taxes on manufacturers, phasing out the temporary utility tax and setting aside hundreds of millions of dollars for Regional Economic Development Councils are all sound strategies for improving the economy in New York,” said Dr. Marsha Gordon, President and CEO of The Business Council of Westchester. “This on-time and bi-partisan budget shows that when it comes to keeping our fiscal house in order and maintaining a strong bond rating New York really means business.”

Among provision that the Business Council supports, and has advocated for, include:

• Cutting the manufacturing tax from 5.9 percent to zero: The BCW has long lobbied for Westchester to be included in such a provision and believes lowering taxes and burdens on manufacturers will incentive companies already here to stay and grow, while encouraging others to move and relocate to New York. Although this was not included in initial proposals, The BCW and local members of the state delegation ensured that it was part of next year’s budget.
• The accelerated phase out of the 18-A utility tax surcharge will go a long way to lowering energy bills in that it will save New Yorkers and businesses in this state $600 million over three years.
• The budget allocates $150 million in new capital and economic development funding and $70 million in tax credits for the Regional Economic Development Councils that ensures the best and most innovative projects are prioritized throughout New York. In her role as a member of the Mid-Hudson REDC, Marsha Gordon will continue to advocate for the region and make sure that the best proposals are put forth and realized.

These provisions, and other pro-business policies, remain priorities for The Business Council of Westchester as it -- through its Government Action Committee -- will continue to lobby lawmakers and advocate on behalf of members to ensure that businesses succeed and thrive in New York.

About The Business Council of Westchester

The county’s largest and most influential business membership organization, The Business Council of Westchester is committed to helping businesses market, learn, advocate and grow. In addition, The Business Council of Westchester is actively involved in reviewing federal, state and county legislation and regulations in order to assess the potential impact on the business community and to influence the outcomes through advocacy when the business community’s interests may be affected. It also acts as an information resource for the business community and government leaders at all levels.