April 26, 2021

The Chamber’s Recovery and Equity Agenda Wins

Although the enacted state budget contained several items that we objected to, the Capital Region Chamber achieved many wins within our advocacy agenda. Your involvement and support is key to the Chamber’s collective strength and influence.

First, the ugly. Over our strong objections, the budget includes an increase in the Corporate Franchise Tax Rate. Given the recovery funds New York State received from the federal government and better-than-forecasted tax revenues, there was no need for such a tax hike. And as our state looks to recover, now is the worst possible time to raise taxes and allow New York State to be one of the, if not the, highest taxing states in the nation. We know that such tax policies will harm rather than assist in our recovery.

Now onto the good! We were successful in ensuring the budget included:

  • Small Business Relief and Recovery Assistance
  • Funding for Workforce Training
  • Assistance for Restaurants and the Tourism/Hospitality Sectors
  • Funding for our Performing Arts Venues
  • Funding for the New Wadsworth Lab
  • Funding for Local Governments
  • Increased School Funding
  • Increased Funding for Affordable and Accessible Child Care
  • Increase in Tuition Assistance Program Funding.
  • Increased Funding for Community Colleges
  • The Continuation of the Middle-Class Tax Cut

Click here to read the Chamber’s Budget Summary SFY 2022