NFIB Reacts to Passage of FY 2024 New York State Budget

May 2, 2023 Last Edit: June 5, 2025

Small Businesses Continue to See Costs Rise with No Relief

NFIB Reacts to Passage of FY 2024 New York State Budget

FOR IMMEDIATE RELEASE ALBANY, NY (May 2, 2023) – The National Federation of Independent Business (NFIB), New York and the nation’s leading small business advocacy organization, released the following statement by NFIB State Director Ashley Ranslow in reaction to the Legislature’s passage of the FY 2024 New York State Budget: “New York’s Fiscal Year 2024 budget is not only a missed opportunity but continues to burden small businesses with cost increases at a time of great uncertainty and unrelenting economic hardships. At a staggering $229 billion, it’s appalling that there is not one penny for broad-based financial relief for Main Street. For years, small businesses have pleaded with Albany to address the state’s $8 billion Unemployment Insurance debt and devastating taxes and assessments, but those pleas continue to go unanswered. With billions of dollars in surplus revenue, this was Albany’s opportunity to fix UI, and they chose not to. Instead, the state is driving up the cost of doing business with mandated wage hikes in perpetuity. This budget does nothing to aid struggling small businesses and only puts them at greater risk while the state’s economy remains below pre-pandemic levels. New York is doing a poor job fixing its economic climate, continues to pick ‘winners and losers’ with billions in economic development giveaways to special interests, and is cementing itself as one of the worst places to do business, especially for Main Street.”

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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.

Topics:

Taxes

State:

New York

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