Assemblyman Tague (R,C,I,Ref-Schoharie) is joining his Minority colleagues in the Assembly to call for the implementation of the Jump Start NY plan to revitalize small businesses in New York in the wake of the COVID-19 crisis. The plan calls for the extension and establishment of various state and federal regulatory relief and financial assistance measures to assure that small businesses in New York state are able to maintain their employees and operations as the state passes through the pandemic.
An upstate New York without our family farms, local restaurants, construction workers and private contractors, and neighborhood businesses is unthinkable. These crucial establishments are what have given so many of us our first jobs, unforgettable moments with our families, and the special identity that makes the places we live truly unique. We cannot afford to lose these amazing places we grew up with to this terrible crisis, and because of that, Im joining my Minority colleagues in the Assembly to call for the implementation of The Jump-Start NY initiatives at the state and federal levels. Our farmers and small business owners and employees are counting on all of us in government to do whats needed, and they cannot afford to wait any longer for this crucial assistance.
Among some of the state-level provisions called for in the proposal are:
- Repurpose and utilize capital programs like START-UP NY benefits, the NY Works Economic Development Fund and the states Regional Economic Development Councils;
- Extend and/or waive state regulations that have been enacted by Executive Orders during the declared State of Emergency for an additional year; and
- Adjust all state tax filing dates to align with federal tax filing dates. The federal government recently delayed numerous business tax filing dates. New York state should delay and mirror the federal government.
Additionally, the plan calls for federal-level action, including:
- Federal money provided to businesses and individuals must be distributed within 30 days of any stimulus bill passage;
- In order to bridge the gap after the emergency period is deemed over and the economy rebounds, the federal government should extend benefits provided for an additional year;
- Future federal stimulus money should be provided directly to local governments and school districts for property tax relief and sales tax to offset increased costs and loss of revenue associated with COVID-19; and
- Expand the Zero-Percent Interest Rate to all Small Business Administration Loans like the Paycheck Protection Program (PPP) loans. All loans provided should be zero percent interest to the recipient with set interest paid by the federal government. A portion of the loan should be forgiven if 2019 employment levels are maintained.
A copy of the Jump Start NY Plan can be found here