New York Business and the Wealthy Should Pay Their Fare Share

Statement by BALCONY Co-Chairman Bruce Ventimiglia,
Chairman of Saratoga Capital Management, LLC

“BALCONY – the Business and Labor Coalition of New York, is concerned that the New York State budget is being balanced by Governor Paterson disproportionately on the backs of workers who are middle and low income wage earners. The governor’s approach will result in a loss of essential services, social services, and cuts in Medicaid funding for health care, all of which could further damage our State’s economy.

Many businesses in New York which rely upon our State’s services, such as higher education which provides a quality work force, stand ready to share the responsibility for keeping our State solvent. Furthermore, there are thousands of wealthy New Yorkers who are ready, willing and able to do their fair share to help us maintain our State’s economy.

We call upon the State Legislature to adopt a balanced approach to our budget shortfall
and to consider policies that restore tax equity to our state and local tax system.”