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Wednesday, January 29, 2003
Senate Majority Leader Joseph L. Bruno today praised Governor Pataki for continuing almost $300 million in previously enacted tax cuts to encourage new economic development and job creation.
"Given the enormous challenge we face in closing a nearly $12 billion, multi-year deficit, Governor Pataki obviously had to make some very difficult choices in putting together his Executive Budget," Bruno said. "One choice that I strongly support is the continuation of almost $300 million in tax cuts. Yesterday we announced the completion of the deal for International SEMATECH to locate in Albany, and bring the potential for many new businesses and jobs. Putting a stop to tax cuts we've already enacted or increasing broad based taxes would send the wrong message to any business that may consider locating or expanding in New York State."
"The Governor's commitment to tax cuts, while other states are raising taxes, will put New York State at an even greater competitive advantage," Senator Owen H. Johnson (R-C, Babylon), Chairman of the Senate Finance Committee said. "By encouraging economic development and job creation, we will generate additional revenue that can be used to fund programs vital to the quality of life in New York State."
Senator Bruno pointed out that in addition to continuing tax cuts to encourage new job creation, education and health care are the Senate's top priorities.
"As education and health care make up the largest portion of the budget, they are also targeted for significant reductions," Senator Bruno said. "As we address these, and other budget issues, we need to be creative and innovative. The Senate will review the Governor's proposal very closely to see exactly what he has proposed. And, as we have done every year, members of the Senate Majority Conference will be divided into budget subcommittees to review the entire Executive Budget and make recommendations as to how we can balance the budget and meet the needs of New Yorkers.
"As we take a close look at the substance of the Governor's budget plan, we should also be looking at the process itself," Senator Bruno said. "On the first day of session the Senate passed a comprehensive budget reform plan that would guarantee an on time budget. I am renewing my call on the Assembly to pass budget reform legislation so we can go to conference committees, reach an agreement and fix a failed process."
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