Struggling New York Small Businesses Will Not Withstand New Taxes, Mandates

Albany (Jan. 19, 2021) – Today, Governor Andrew Cuomo gave his annual executive budget address outlining the state’s fiscal condition and policy priorities for the year ahead. Amidst the continued chaos of COVID-19 and uncertainty surrounding federal actions, the Governor outlined the tenuous condition of state finances and some of the paths available to enact a balanced budget by April 1^st.

“While the small businesses of New York who suffered most during the pandemic would have liked to hear concrete solutions and assurances for the state’s fiscal year, NFIB welcomes the Governor’s acknowledgment in today’s address that it is our state’s small businesses that have ‘taken it on the chin’ and sacrificed much to promote public health,” said Greg Biryla, NFIB’s Sr. NY State Director.

The most recent NFIB research shows 47% of small business owners anticipate that they will not be able to operate longer than 7-12 months under current economic conditions.

“As the state grapples with a significant multi-year budget deficit, one thing must remain top-of-mind, proposals to levy new or increased taxes, assessment, surcharges, fines, or fees on New York’s distressed small businesses should be rejected out-of-hand,” added Biryla. “Our Main Street entrepreneurs, the communities they support, and the jobs they provide are being pushed ever closer to the cliff and there will be no normal to return to without the small businesses we all know and love.”