Governor’s Action To Protect Experience Ratings Could Save Small Biz Thousands in Higher Unemployment Insurance Taxes

Date: January 15, 2021

ALBANY (Jan. 15, 2021) – Today, Governor Andrew Cuomo took executive action to help small business owners by limiting increases in the unemployment tax linked to the number of people a company lays off or furloughs. NFIB, advocating on behalf of about 10,000 small businesses in New York, is grateful to the Governor for taking this action. The unprecedented number of unemployment benefit claims 2021 were almost entirely due to the pandemic and pandemic-related policies, and not reflective of decisions made by business owners.

The following statements are from Greg Biryla, NFIB’s Sr. NY State Director:

“The Governor’s action today provides needed respite and clarity for struggling small businesses as they work overtime to bring back workers, create new opportunities, and fuel New York’s economic recovery.

“For the first time in a long time, New York’s small businesses received some genuinely positive news and at least one assurance about the path that lies ahead for them in 2021. Absent executive or legislative action, small businesses were facing thousands of dollars in new unemployment insurance charges in 2021 directly related to workforce reductions forced upon them during the pandemic.  

“Much work remains, as evidenced by NFIB’s Small Business Optimism Index dipping an alarming 5.5 points in December 2020. Sales remain slow, anxiety remains high, and COVID-19 creates new challenges for small businesses every day. We appreciate the Governor’s efforts that culminated in today’s announcement and NFIB looks forward to working with his administration and legislators from both parties to advance additional solutions that will further stabilize unemployment premiums, safely reopen and reinvigorate our entire economy, and provide direct relief to small businesses hit hardest during the pandemic.”

Related Content: Small Business News | New York

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