FOR IMMEDIATE RELEASE

ALBANY, NY (May 27, 2026) — The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy association, released the following statement this morning by NFIB New York State Director Ashley Ranslow: 

“New York’s small businesses continue to struggle with high energy costs, unsustainable insurance premium hikes, and unnecessary and onerous red tape, but this year’s New York State budget begins to chip away at some of the underlying issues driving up costs for Main Street. Importantly, broad-based tax increases, including personal income or corporate tax hikes, were rejected by Governor Hochul, protecting small business owners from additional financial burdens in a state that already leads the nation with the highest tax burden.

“Under the Governor’s leadership, this budget makes critical changes to the state’s climate law to help avoid a $7,000 increase to already hefty utility bills for small entrepreneurs, and ushers in commonsense auto insurance reforms that tackle excessive lawsuits and rampant fraud, which have led to the highest auto insurance premiums in the nation. The budget’s changes to the state’s environmental review process known as SEQRA will help cut down on red tape and provide clearer timelines to help speed up development on certain projects — a necessary step to tackling New York’s onerous regulatory environment.

“Small business owners, like all New Yorkers, are grappling with rising costs from all angles, and are in desperate need of relief. This year’s budget sets the stage to lower auto insurance premiums and avoid catastrophic energy bill increases, and it does not burden small businesses with even higher taxes. While this budget delivers some key victories for small businesses, there is more work to be done to make New York more affordable. NFIB looks forward to continuing to work with Governor Hochul to help ensure small businesses can successfully operate and ultimately grow in the Empire State.“

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For over 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.