Unshackle Upstate released its new five-point Economic Revitalization Agenda, Tuesday. Executive Director Brian Sampson says the tax reform proposal includes plans to reduce the income tax rate by 25% for people making $50,000 a year or less.
In addition to the personal income tax cuts, Sampson says the group’s plan includes tax cuts for small businesses upstate and a 50% reduction in State sales tax for counties affected by high population loss and high unemployment rates.
“The public policies that are passed in the halls of Albany tend to have a more dramatic impact on our economy then they do the downstate areas. So, what we believe is that by giving the money to people who need it the most, that is our small business and the individuals that are making less than $50 thousand dollars, you’re going to infuse more cash into our economy, ” said Sampson.
Lieutenant Governor Robert Duffy reacted to the ERA proposal during his visit to Buffalo Wednesday.
“You’re talking about a governor who has made it one of his cornerstone issues to reduce taxes. He is looking for ways to make New York State much more business friendly. I have not read the entire report yet, I saw a blurb in the media. I think it is very consistent with the Governor’s views on trying to bring the state back to a much better business climate,” said Duffy.
The plan is expected to cost $860 million. Brian Sampson says Unshackle Upstate proposes lifting the statewide moratorium ban on hydro-fracking to offset that cost.
Lt. Governor Robert Duffy says Governor Andrew Cuomo will comment on the plan when he’s ready. In the mean time Unshackle Upstate will encourage state lawmakers to include the ERA in the 2014 budget through a series of regional events.