Members of the Business Council of New York State recently wrote to Governor Andrew Cuomo and Legislative Leaders citing their opposition to a sweep of $200 million in reserve funds, used for energy efficiency programs, research and development initiatives, renewable energy projects and low-income energy programs, into the General Fund.
I agree with the Business Council’s position and strongly urge Governor Andrew Cuomo and legislative leaders against this budgetary sweep. By sweeping the reserves into the General Fund, this will directly impact ratepayers by having them fill a void and replace a $200 million shortfall. New Yorkers already are paying some of the highest energy costs in the nation. Having the state hit ratepayers with another surcharge to feed the appetite of fiscally-irresponsible politicians in Albany is wrong. The impact that this tax will have on business competitiveness and taxpayers will be detrimental to our local economies. With the cost of energy and the price at the pump at all-time highs, ratepayers, taxpayers and business cannot afford another tax that impacts their wallets and bottom line.