"It’s time to more closely scrutinize the entire overblown premise of New York State’s economic development programs." Read More
Category: Testimony
Lawmakers should reject the Thruway toll gimmicks in the budget, and should repair the 'cliff' in the state's estate tax, Empire Center president E.J. McMahon testified. Read More
E.J. McMahon, president of the Empire Center, testified before the Senate Labor Committee on the impact of Gov. Andrew Cuomo's proposal to impose a $15 statewide minimum wage. Read More
Changes made last year to the Corporation Franchise Tax and Estate Tax codes will help make New York a more attractive and competitive place to live, work and do business. However, there remains much to do. Read More
Governor Cuomo’s 2014-15 Executive Budget would devote more resources to initiatives described as “tax cuts” than any state budget we’ve seen in quite a few years. This in itself is an encouraging sign of the recognition that New York needs to do more to shed its reputation as a high-cost, high-tax state. Read More
The Great Recession and its aftermath have brought obvious, ongoing strains to finances at every level of government. What we have been experiencing for the past five years is something new and unprecedented in the post-World War II era: a prolonged period of slow growth with pronounced disinflationary tendencies. Read More
This committee has chosen an opportune moment to review New York’s state tax code and consider reform options. Wall Street, the state’s cash cow for 20 years, is now retrenching. And in an era of slower economic growth, many businesses will be less willing to shoulder costs they can avoid by moving elsewhere. Needless to say, by various measures, most states can offer a lower-cost environment than New York. Read More
Good afternoon, Chairman Weprin, and thank you for this opportunity to testify before your subcommittee today. My name is Edmund J. McMahon, and I am senior fellow for tax and budgetary studies at the Manhattan Institute for Policy Research. The M Read More