Albany Update: Big I NY Calls for UI Tax Relief, Assembly Insurance Committee Hearing Postponed, Redistricting Drama Continues
This week, Big I NY joined fifty business organizations in calling on the state legislature to use up to $3B in state funds to provide desperately-needed relief from rising unemployment insurance (UI) taxes. Soaring UI taxes demand the State's attention - inaction will only delay New York's economic recovery. According to the New York State Comptroller, compared to contributions made in 2020, total state and federal UI taxes paid by New York employers will increase by at least 45.4 percent to as much as 254 percent in 2025.3 This would be catastrophic for our state's job creators.The proposed Assembly Insurance Committee hearing to evaluate the…