FOR IMMEDIATE RELEASE

ALBANY, NY (Jan. 14, 2025) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy association with more than 11,000 members in the Empire State, issued the following statement by NFIB New York State Director Ashley Ranslow in response to Governor Kathy Hochul’s 2025 State of the State Address:

“The Governor’s proposal to cut personal income taxes is welcome news, as many small businesses pay their taxes through personal income tax. NFIB is hopeful this tax cut will benefit small business owners, but more needs to be done. Small businesses are the engines that drive the economy, and they have struggled to survive in the Empire State. New York’s tax and regulatory environments have direct impacts on small businesses’ bottom lines – when the cost of doing business goes up, prices go up, jobs and business growth are negatively impacted, and the state’s economy continues to lag. To make New York more affordable, the state needs to tackle high Unemployment Insurance taxes, costly lawsuits, rising utility bills, and overregulation.”

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For more than 80 years, NFIB has been the voice of small business, advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is nonprofit, nonpartisan, and member driven. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit www.NFIB.com.