Small Business: State Spending Cap is Insurance Policy for Tax Cuts

Date: February 27, 2014

Albany (February 27, 2014) – The National Federation of Independent Business (NFIB), which supports most of Governor Cuomo’s tax cut proposals, today said the best way to ensure their full implementation is to cap state spending increases at two percent.

“The Governor’s budget assumes that state spending increases won’t exceed two percent over the next two years. That’s a leap of faith that taxpayers shouldn’t have to make,” said NFIB State Director Mike Durant.

The pressure on Albany to increase spending is always heavy, said Durant, and the promise to cut taxes could be easily abandoned next year or the year after.

“The tax cuts depend on fiscal restraint and that’s always the first casualty of politics,” said Durant.  “A two-percent cap would lock everyone in to the commitment that the Governor is making to taxpayers.”

Durant pointed out that the two-percent cap on property taxes, which the Legislature approved, works on the same principle. 

“Think of it as belly band surgery for government,” said Durant.  “It’s a way to control Albany’s appetite for more spending.”

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