The Cost of Tax-Free NY
Kandy Harris | August 19, 2013A recent article in LoHud.com reveals the estimated cost of Governor Cuomo’s “Start-Up NY”, which, according to the piece, comes out to about $323 million through March 2017. You may recall the proposal by its original name, “Tax-Free NY”, an idea that would allow new businesses to open up around SUNY college campuses and operate tax-free for ten years. We posted about it back in May, so if you’re interested in learning more about the plan’s origins, you can read our post.
As the LoHud.com article states, the proposals has had its detractors, including unions and conservative think-tanks (could it be that unions and conservative think-tanks agree on something?), while business groups see it as a boon. Some argue that the program is far too expensive and ultimately doesn’t address the underlying issues of upstate New York’s economy, and some see it as the Governor’s attempt to get something, anything, going in upstate New York in order to attract new businesses and bring in revenue. What do you think of “Tax-Free” “Start-Up NY”? Tell us in the comments.
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