Posted at: 09/03/2013 5:51 PM
| Updated at: 09/03/2013 7:06 PM
By: Bill Lambdin
ALBANY - It's a five point plan that leaders of Unshackle Upstate say they've been working on for the past two months.
"New York State is home to two vastly different economies," said Brian Sampson. "We have the New York City economy that is thriving and we have an upstate economy that is simply not."
There are tax benefits here for select individuals and businesses.
Upstate residents making less than 50-thousand dollars a year would get 25 per cent knocked off their state income tax.
"They don't qualify for any form of any sort of government subsidy ever but yet they're still having to pay the full boat and the full burden of the tax structure of the State of New York," Sampson said.
The proposal on state income tax targets upstaters everywhere of low and moderate earnings.
Another proposal to cut the state sales tax from four to two per cent would apply in 24 upstate counties that have lost population or have high unemployment rates.
That would include Fulton, Montgomery, Hamilton, Greene and Schoharie in our area.
Those two targeted tax cuts would reduce state revenue by about 475 million dollars a year according to Unshackle's estimates.
They also have three business related tax cuts, including hydrofracking in the Marcellus Shale deposit, which they say would generate 78 million dollars in the 2014 fiscal year.
The proposals will give lobbyists and lawmakers something to discuss in coming months.