Unshackle Upstate Statement Regarding Tax Foundation’s 2020 State Business Tax Climate Index
“The Tax Foundation’s new 2020 State Business Tax Climate Index should serve as a wake-up call to every elected official across the state. In this year’s rankings, New York moved backwards from 48th in 2019 – achieving the second-worst business tax climate in the nation. This dishonorable distinction will make it more difficult for New York to attract new businesses and keep existing employers here.
Until Albany improves our harsh business climate, employers will continue to struggle and residents will continue to flee to more welcoming states. With more than 1 million residents having left New York over the last decade, it’s critical that Governor Cuomo and legislative leaders take meaningful action to reduce taxes, ease our regulatory burdens and make our state more competitive.
This past legislative session compounded many of the fundamental problems that have hurt our economy – particularly in Upstate New York. As we approach the 2020 legislative session, we strongly urge leaders in Albany to recognize these challenges and take aggressive action to improve New York’s economic climate.”
For more information click: State Business Climate Tax Index.