Deputy Republican Leader and State Representative Tim Schmitz (R-Batavia) reacted to the vote to increase the income tax, citing a lack of spending reductions and other key reforms as glaring shortcomings in the tax package’s shortsighted approach to solving the state’s chronic budget shortfall.
Legislative Democrats approved an eleventh-hour income tax increase by the slimmest of margins on the final day of the lame duck session last Tuesday evening, giving their stamp of approval to a 66% increase in the individual income tax rate and a nearly 50% hike in the corporate tax rate. The package was approved by a vote of 60-57, narrowly reaching the bare minimum of 60 votes needed for passage.
“Instead of placing state government on a diet, the majority opted instead to raise taxes and place the burdens of more than a decade of over-spending on already hard-pressed families and small businesses,” Schmitz said. “This tax increase is a jobs-killer in a struggling economy and asks taxpayers to bail government out of their own bad spending habits.”
“Instead, we should have embraced spending caps to force government to live within its means, a show of good faith to the taxpayers and job-creating small businesses who will now be forced to carry the burden of this income tax increase,” Schmitz added. “I am saddened by this outcome. Frankly, the people who sent us here to represent them expected and deserved better.”