Upstate United Sounds Alarm on New York’s Tax Burden
March 26th, 2021
Upstate United releases a new fact sheet highlighting New York’s abysmal tax rankings.
Upstate United, a non-partisan pro-taxpayer organization, has released a new fact sheet highlighting New York State’s massive tax burden. Taxed Out – Taking A Closer Look At New York State’s Tax Burden shows how New York compares to other states in various tax areas.
“As special interests keep calling on Albany to raise taxes, our organization is committed to fighting for much-needed tax relief. Overburdened taxpayers continue to flee New York due, in part, to the state’s extraordinary tax burden,” said Justin Wilcox, executive director of Upstate United. “Returning to the days of massive tax hikes and bloated budgets isn’t progressive, it’s problematic.”
As part of their budget proposals, both the New York State Senate and Assembly have proposed higher rates on certain business taxes. According to The Tax Foundation’s 2021 Business Tax Climate Index, New York ranked 48th in the country. Only California and New Jersey had lower rankings.
The fact sheet also highlights the state-level aid from The American Rescue Plan which was passed by the federal government earlier this month. In that package, New York State was directly provided with $12.5 billion in aid. Local governments also received more than $10 billion. Additionally, a recent report Comptroller Thomas DiNapoli showed that state tax collections through this February were higher than what was forecasted by the Division of Budget by $758.4 million
“Thanks to the recent federal stimulus package and better-than-expected state tax collections, there’s ample resources for this year’s budget,” Wilcox said. “Moving forward, we’ll need to grow our way out of this problem. Washington isn’t going to come to our rescue every year. The sooner we can reopen businesses, rebuild our economy and revive our communities, the better.”
View Upstate United’s Taxed Out – Taking A Closer Look At New York State’s Tax Burden fact sheet here.