Today, Assemblyman Ed Ra (R-Franklin Square) joined members of the National Federation of Independent Business (NFIB) for New York State Small Business Day in the state Capitol.
The NFIB is America’s leading small-business advocacy organization and fights across the country to ensure all small businesses have a voice and influence in policy development.
“It is an unfortunate reality that New York State’s business climate has been stifled by over-regulation and is struggling to get back on top,” said Ra. “However, Small Business Day is an important day for business owners, NFIB representatives and legislators to come together and discuss ideas that will help get the economy back on track. This is a very valuable opportunity for hardworking business owners to ensure that their concerns are heard by members of the Legislature.”
Ra noted that small businesses are the backbone of New York’s economy. He also said he has long supported measures to help local business owners overcome bureaucratic red tape and succeed.
“I think that in order to truly help our businesses we must start at the root of the problem,” continued Ra. “Heavy taxation and burdensome regulations have led to the downfall of many local small businesses. There are over one million small businesses across the state, but unfortunately, the governor’s recent proposal to reduce the income tax rate for small businesses would only affect a mere 40,000 businesses. This is simply not enough to be considered a victory for our businesses. In order for the economy to thrive once again, we need to expand the number of businesses that ultimately benefit from such proposals.”
Ra has worked with colleagues on both sides of the aisle in the Senate and Assembly to develop a small business IRA account that would allow local small businesses to set aside capital on a pre-tax basis. He hopes that during this Legislative Session the Assembly will follow the Senate’s lead and pass the legislation.