Written by Senator Kemp Hannon Friday, 23 March 2012 00:00
Providing transformative relief to millions of taxpayers, creating tens of thousands of new jobs, and ensuring a stronger, more prosperous future for many years to come are the cornerstone of the Senate’s ‘2012 New Jobs – New York’ plan. Nassau County residents will greatly benefit should this plan become law.
In 2011, I and my colleagues successfully reduced state spending, cut income taxes (bringing middle class rates to the lowest level in 58 years), rolled back the MTA Payroll Tax, and provided a 2 percent cap on local property taxes, all of which were particularly onerous for Nassau residents.
Looking to build on this success, the next step we must take to help local residents is to enact job-creating measures. My ‘2012 New Jobs – New York Plan’ will do just that. It has several key components that include:
• A 2 percent cap on state spending: controlling government spending will boost private sector economy and help create jobs.
• Constitutional amendment to help prevent tax increases: this landmark reform will keep New York’s economy on the right track for years to come.
• A moratorium on new taxes and fees: high taxes are job killers, and this moratorium will provide a major boost to small businesses statewide.
• The ‘Hire Now-NY’ tax incentive: new incentives to get businesses hiring again.
• The ‘Hire-a-Vet’ enhanced credit: creating incentives to hire returning veterans.
• A 20 percent tax cut for local businesses: major tax relief for small businesses across the state.
• Energy tax cut: a major new cut in the ‘notorious 18’, an energy tax surcharge.
• Middle class tuition relief: new tax reforms to protect middle class families from rising tuition costs.
Upon passage of this plan in the Senate, I look forward to working closely with the Governor and the Assembly to help make these measures a reality. New York has come a long way in the past year. By working together, I have no doubt we can accomplish even more, especially when it comes to creating new jobs.