Palmesano: Inflation Is A Tax On Every New Yorker

Assemblyman Phil Palmesano (R,C,I-Corning) joined his Assembly Minority colleagues, NFIB New York State Director Ashley Ranslow, restaurant owner Mike Maloney and President of the Northeast Retail Lumber Association Rita Ferris on Monday to continue advocating for passage of A.8481. The “Inflation Relief and Consumer Assistance Plan” would provide immediate and meaningful relief to New York families who are struggling to make ends meet as inflation continues to go unchecked. The bill would slash sales tax for the next two years and lower prices on everything from gas to home goods.

“Despite receiving millions in federal funds and currently having a surplus as a state, families and small businesses are still seeing increased costs. The surplus and higher-than-projected revenues can and should absolutely be used to cover slashing the state sales tax for the next two years. This will have a positive impact on every family’s budget.

“In December alone, we saw inflation rise by 7%. Overall, we have not seen inflation like this in 40 years.”

Palmesano noted that from December 2020-December 2021 we saw cost increases in the following areas that have significantly affected families and small businesses: 

  • Gas prices - up 49.6%
  • Fuel oil – up 41%
  • Energy prices – up 29.3%
  • Meat, fish, poultry – up 12.6%
  • Food away from home - up 6.0%
  • Clothing – up 5.8%
  • Paper products - up 3.2%
  • Housekeeping supplies - up 2.1%

“Inflation is a tax on every New Yorker. Our Inflation Relief and Consumer Assistance Plan will provide New Yorkers with meaningful and immediate relief. Our constituents expect the Legislature to act, and with this common-sense legislation it is imperative we take immediate action now to help provide needed relief to families who have been hit hard by rising inflation and price increases. We cannot count on or wait for the federal government to provide this relief, slashing the state sales tax falls under our purview and we should act now.

“As we continue to work to rebuild our economy from the pandemic it is imperative we act on the added tax of inflation. Tax-and-spend policies out of Albany and Washington, D.C. have put us on this slippery slope. Our current course is untenable. I urge my colleagues in the Majority to join us in passing A.8481 immediately,” said Palmesano.