A Message from John – New York State Budget for 2018-2019
http://thebcw.org/wp-content/uploads/2015/07/john-ravitz.jpg
John Ravitz
BCW Executive Vice President and COO
- It does not raise taxes.
- It includes $24 million to help local communities and the Hendrick Hudson School District that will be severely impacted by the closing of Indian Point. The Indian Point closing poses numerous challenges. The BCW has been vocal regarding the lack of planning for the closing. We will continue to press the Governor and the legislative leadership for concrete answers on how to replace the 25 percent of energy produced for New York State and Westchester that will be lost — without negatively affecting ratepayers
- The push for increasing funding for higher education, particularly for private colleges, that we have supported has been successful. The budget allocates more than $7.6 billion in State support for higher education. This includes $22.9 million for the second phase of the Enhanced Tuition Award program to make college more affordable for residents attending private colleges.
- Funding for New York Youth Jobs that is crucial to workforce development. The BCW, which works closely with the County through its year-round workforce development and summer jobs programs, is pleased that the budget increases employer credits by 50 percent from $500 to $750 per month. This particularly benefits our urban centers of Mount Vernon, New Rochelle, White Plains and Yonkers.
- Funding for the Regional Economic Development Councils. Westchester and the Mid-Hudson Region were big winners last year with a total award of $84.8 million to support 113 projects. In Westchester, 23 projects worth $10.7 million were funded. It was the highest award of any of the ten regions in the state.
- Counter measures to Federal Tax Reform were also adopted. The State has passed a series of measures that would serve to lessen the impact of the loss of State and Local Tax deductions (SALT) under federal tax reforms. We will be watching closely to see if these measures such as expanding charitable deductions for New Yorkers and creating an alternative employer compensation expense program do what they are intended to and meet IRS regulations.
Similar News Items
The City of Yonkers is ready for its close-up. Yonkers Mayor Mike Spano and Emmy Award-Winning Producer / Great Point Studios Founder, Robert Halmi were on hand on July 1 at Times Square for the debut of a large digital billboard positioning Yonkers as “Hollywood on Hudson,” a brand which is copyrighted. With a surge […]
The Westchester Innovation Network (WIN), an initiative of the Business Council of Westchester (BCW), is proud to announce the successful outcome of a research project between CatchU® and BCW Member Burke Rehabilitation Hospital in White Plains. JET Worldwide Enterprises Inc. (JET), a startup company developing CatchU received the top $10,000 grant from the BCW in […]
On June 24, BCW Member NewYork-Presbyterian hosted a ribbon-cutting ceremony for The One, a new center for advanced care with world-class doctors from Columbia that will open in September. Centrally located at 1111 Westchester Avenue in White Plains, the facility is part of NewYork-Presbyterian’s ongoing efforts to meet the needs of the growing Westchester community and expand services within […]
Become A Member
Join the county’s largest and most influential business organization today.
JOIN NOW!
Leave a Comment
You must be logged in to post a comment.