Taxes and Spending

In order for New York State to keep residents from moving to states with lesser taxes and more economic growth, New York must reconsider its financial structure to lower its debt, provide mandate relief, reconsider regulations that strangle businesses, end the wasteful spending on programs that are doomed to fail and cut spending across the board.

The NY State Legislative Members must adopt the following recommendations to lower/eliminate the oppressive taxes forced on the families residing in New York State:

  • Requirement of a 2/3 majority vote for any tax increase
  • Rejection of extending and/or increasing the personal income tax (PIT) on higher income New Yorkers.
  • Opposition to the ever increasing MTA mobility taxes.
  • Opposition to the New York Health Act.
  • We oppose the adoption of any revenue stream, that does not include a sunset clause, designed to mitigate the COVID-19 deficit, which will become a permanent burden on taxpayers and businesses, and give Albany more money to play with when the impact of COVID recedes.
  • End and repeal unfunded mandates.
  • Adoption of a constitutional amendment that requires the NYS Budget be strictly limited to budget items and not programs that should stand alone for a legislative vote.
  • Adoption of a constitutional amendment limiting any increase of state spending to the rate of inflation.
  • We support a constitutional amendment to reform NYS Bonding.  The amendment should include an end to ban back-door borrowing, require listing the total debt expected from the bonding and allow the voters of New York to have more than one bond issue on the ballot.
  • Prohibit public authorities from issuing new debt except for capital improvements backed by a stable revenue stream paid directly by the project’s beneficiaries – for example: bridge tolls.
  • Continue to hold total state spending growth at/or (preferably) below the inflation rate.
  • Further reduction in the state corporate income tax on all businesses in New York, to stimulate more investment and job creation. No adoption of a “circuit-breaker” property tax program.
  • End the practice of increasing fees or “hidden” taxes. While the cap on Medicaid spending was a good beginning, Medicaid must be reformed to decrease spending. Among some of the reforms Medicaid should adopt is the elimination of programs that are not covered by private insurance carriers.
  • Every effort must be made to eliminate Medicaid fraud and to recover the monies paid on fraudulent claims.
  • Elimination of state income tax on dividend earnings.
  • Local government entities, such as Fire Districts, Libraries, School Districts, should have voter approval of budgets, prior to contracts becoming effective.
  • Local governments should be required to consolidate services and where possible, to eliminate duplication of services.
  • Eliminate the New York State estate tax.
  • Pension Reform. While it is understood that the New York State Constitution does not allow pension benefits to be “diminished or impaired,” the current defined-benefit pension entitlement must be changed to a defined-contribution retirement savings plan when new government employees are hired. Tier VI, did not include “defined-contribution,” which is necessary to curb the future costs to taxpayers.
  • Continue job creation through tax reduction by elimination of the Gross Receipts Tax.
  • New York State needs to address the out-of-control costs of health care for employees and retirees of public employment agencies.
  • Common retirement funds must use free-market principles and not be mandated by government fiat to invest in risky “do good” ideals.