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Chamber Favors Tax Plan

The Greater Binghamton Chamber of Commerce is weighing in on a tax reform package that Governor Andrew Cuomo announced earlier this week.
The Greater Binghamton Chamber of Commerce is weighing in on a tax reform package that Governor Andrew Cuomo announced earlier this week. The Chamber favors the changes and says they will hopefully help make New York more competitive with other states.

Part of Cuomo's proposal is to wipe out the corporate tax rate for upstate manufacturers and also give them property tax credits. Chamber President. Lou Santoni, says our area had an extremely high amount of manufacturing decades ago, which has steeply declined. Santoni says the tax incentives, which Cuomo wants to pay for through a $2 billion budget surplus, should help local businesses.

"It's going to help attract, more importantly it's going to help retain, because those businesses that are here can be more competitive with companies in other states. I think that's key and I think the Governor recognizes that," said Santoni.

Santoni also says the estate tax reform proposal will hopefully help keep people from fleeing New York State once they retire to try to protect their assets. The Governor's plans are now headed to the State Legislature for consideration.
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