Subject:
Corporate Revenue
Message:
Dear Legislator,
As your constituent and someone who cares deeply about public education, I strongly urge you to support three commonsense corporate revenue proposals that will allow the state to provide much needed health, safety and educational resources and programs to communities and students throughout the state.
We must continue to invest in our students — from pre-kindergarten through college — by providing a quality education, access to mental health professionals and other supports to ensure student success. We must also continue to invest in the state's health care systems and take steps to address food insecurity in our state.
We can accomplish this by ensuring that pre-K-12 students have access to school nurses, school counsellors, school librarians, special education teachers, certified pre-kindergarten educators, childcare and aftercare services, art and music programs and by providing universal free school meals to students. Students pursuing a public higher education need access to dedicated, full-time faculty, advisors and classes that will help them to graduate on time. We need to fund programs that incentivize individuals to enter and remain in the nursing profession and properly fund the state's three teaching hospitals.
The best opportunities to increase needed revenue without asking the working people of our state to give more, particularly while business interests are not paying their fair share would be to enact three corporate tax enhancements: to permanently make the corporate income tax 7.25 percent, to begin to include foreign profits in a corporation's taxable income through the GILTI calculation and taxing pass-through business structures like LLCs as we do corporations.
These three corporate tax changes would generate much needed revenue to provide services, while not affecting New York businesses with less than a $5 million annual income. New York must lay the groundwork now to increase revenue for this fiscal year, next fiscal year and in future years.
Accordingly, I urge you to work with your conference and your leadership to support these three commonsense corporate revenue enhancements, which would generate between $2.5 and $3 billion annually by passing S.1980 (Hoylman-Sigal)/A.3690 (Kelles).
Thank you for your consideration of this important matter. I look forward to a reply to my e-mail.
Sincerely,
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