Skip to content
NFIB Logo Join Now

Small Businesses Once Again Saddled with Paying the Interest on New York’s UI Debt

Small Businesses Once Again Saddled with Paying the Interest on New York’s UI Debt

July 24, 2023

New York remains one of the only states with remaining UI debt that has not used federal funds to provide small businesses much-needed relief.

Small Businesses Once Again Saddled with Paying the Interest on New York's UI Debt

FOR IMMEDIATE RELEASE ALBANY, NY (July 24, 2023) – The National Federation of Independent Business (NFIB), New York and the nation’s leading small business advocacy organization, today released the following statement by NFIB State Director Ashley Ranslow: “Once again, New York’s small businesses are paying the interest on New York State’s $6.5 billion Unemployment Insurance debt. The New York State Dept. of Labor’s recent notification that businesses are on the hook for paying an ‘Interest Assessment Surcharge’ remains unconscionable. The state’s UI debt was a direct result of pandemic-related public policy decisions made by state officials. Instead of taking responsibility, New York’s leaders would rather drag their feet and do nothing, while small businesses continue to shoulder the burden during a period of historic inflation, labor shortages, high energy costs, and an uncertain economic outlook. For three years now, NFIB has called on the state to use federal pandemic relief to pay off the outstanding UI debt and interest surcharge, but our calls remain unanswered. More than 35 states with UI trouble have contributed funds to their debt to mitigate the massive tax hikes and surcharges; New York has not allocated a single penny. Small businesses have heard the message loud and clear – New York State does not have their backs and has no interest in helping Main Street.”

###

For 80 years, NFIB has been 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 nfib.com.
Get to know NFIB

NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.

Receive our newsletter and email notification
Knowledge is power. Let us help you stay informed with breaking legislative news, regulatory updates, business tips, and more.

Related Articles

The New York State Capitol Building in Albany, home of the New York State Assembly.
Related
July 13, 2026
IMPORTANT! Department of Taxation and Finance Issues Notice on “Decoupling” Penalty and Interest Exemption
Guidance provides instructions on how to handle a bill for interest and penalties arising from the delayed decoupling.
Read More
Buildings in Manhattan New York
Related
July 9, 2026
New Report on New York’s Small Business Economy Released
“[S]ignificantly few New York owners reported their small businesses as being in excellent or good health compared to the U.S.”
Read More
Related
July 9, 2026
COLUMN: Small Business Owners Should Not Be Blocked From Fixing Others’ Equipment
State Director Jim Brown urges Congress to pass the REPAIR Act.
Read More
Related
July 8, 2026
ICYMI: NFIB’s Beth Milito Tells WWL About Efforts to Repeal Mandate That Hurts LA Small Businesses
‘Pointless’ BOI reporting requirements a burden to Main Street businesses.
Read More

© 2001 - 2026 National Federation of Independent Business. All Rights Reserved. Terms and Conditions | Privacy Policy | Accessibility