New York State Budget

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Healthcare Taxes Central to Governor’s Budget Proposal

Governor Cuomo’s Executive Budget proposal looks to close the state’s $4.4 billion deficit with a series of revenue actions – government speak for new taxes and fees.  The majority of these new taxes fall on the healthcare industry, continuing New York State’s long history of taxing healthcare to pay for healthcare.  This reliance on healthcare taxes is one of the main reasons New Yorkers pay some of the highest healthcare premiums in the country and why Buffalo Niagara employers identify healthcare costs as a growing pain point.