FOR IMMEDIATE RELEASE

ALBANY, NY (Jan. 16, 2024) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy association, released the following statement by Ashley Ranslow, NFIB’s New York State Director, responding to Governor Hochul’s presentation of her 2025 state budget proposal:

“NFIB applauds Governor Kathy Hochul for standing by her pledge to not increase income taxes to balance New York State’s Budget. Facing a $4.5 billion budget deficit, there have been calls to increase income taxes, an incredibly misguided approach that would hurt the state’s economy, small business owners, and exacerbate the outmigration of New Yorkers and their tax dollars. The Governor’s rejection of income tax increases is the prudent and responsible course of managing the state’s finances. 

“The Governor’s budget also advances pro-small business policies that will provide much-needed financial relief to Main Street. The budget proposes to finally sunset the outdated COVID sick leave law, which was never intended to be permanent, saves hardworking small business owners from being robbed by trial lawyers for wages already paid to manual workers, and cracks down on the dramatic increase in retail theft incidents. NFIB commends the Governor for incorporating small businesses’ top priorities and protecting Main Street at a time when it is becoming increasingly difficult to keep the doors open for employees, consumers, and communities. Members of the New York State Senate and Assembly should support the Governor’s efforts to assist New York’s small businesses and the state’s economy by advancing these items in the final budget agreement.”

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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.