Subsidy Sheet: How did the NY Legislature’s budgets address corporate giveaways?


This week, the NY Senate and Assembly released their one-house budget proposals. Since the NY budget is where many of the state’s worst tax breaks are passed, we were glad to see the Senate’s budget include a number of bills that reduce some of the most absurd corporate subsidies and increase oversight over unaccountable economic development agencies:

Unfortunately, the Assembly’s one-house budget did not include any of these provisions. Though we shouldn’t let either house off the hook, historically, the Assembly has been the most resistant to even modest reforms of New York’s out-of-control $11 billion corporate welfare machine. While the Senate has passed the Gianaris/Dinowitz bill ending NY’s Opportunity Zone tax break twice now, the Assembly never has. 

Read the Senate’s budget here, and the Assembly’s budget here.

Other NY corporate giveaway news from this week:

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