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ASSEMBLYMAN FINCH
UNVEILS SMALL BUSINESS PACKAGE
Package of proposals offers opportunities for small business in New York
Assemblyman Gary D. Finch (R, C-Springport) today joined Assembly Leader
James Tedisco (R, C, I-Schenectady-Saratoga) and his colleagues in the
Assembly Republican Conference to unveil a comprehensive plan that would
create more opportunities for small businesses to thrive and grow in New
York. Among other provisions, the Small Business Improvement Act of
2006 would provide tax credits, create grant programs, and reduce tax
rates.
“There is no question that small businesses are what
make New York’s economy tick,” said Finch. “This package of proposals
offers a plan that I am very confident in, one that I feel will allow
small businesses throughout New York state to grow and thrive.”
Nearly 98 percent of all New York businesses employ
fewer than 100 people, but they account for almost 52 percent of the
state’s total workforce. However, rising costs have compromised their
ability to remain viable in New York state.
The Small Business Improvement Act of 2006
would:
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Increase funds for the
Main Street Revitalization program to provide grants to upgrade and
renovate downtown and main street façades;
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Restore a tax rate for
small businesses that is a full percentage point lower than the general
business taxes levied in New York state;
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Establish a Small Business
Training Tax Credit equal to the amount expended by businesses that
provide job training to upgrade or improve the skill level of their
employees;
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Provide a Small Business
Energy Tax Reduction;
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Enact a prompt payment law
for state contracts with small businesses and require that at least 15
percent of state contracts are with businesses employing 100 or fewer
employees;
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Provide education grants
to business owners and employees for courses necessary for the support
and operation of micro-enterprise businesses;
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Establish the Governor’s
Office of Regulatory Reform in statute and increase the Empire State
Development Corporation’s flexibility for small businesses; and
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Increase the sales tax
vender credit to 10 percent and raise the maximum credit to $1,000 per
year for compliance costs.
The
Business Council of New York State is holding its annual “Small Business
Day” today – and tomorrow the Assembly Republican Task Force will begin
its discussions of these important issues. Both events will take place in
Albany.
“We must not let this package of proposals crawl to the
back of the line,” concluded Finch. “It is important that we continue to
encourage the growth of small businesses or we run the risk of allowing
our state economy to crumble. That is something that I believe very
strongly in, and I pledge to work tirelessly so that small businesses
across New York state and Central New York are given the opportunities
they deserve.”
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3/28/06 |
