Presidents at the state universities wrote an open letter today in support of Gov. Andrew Cuomo’s Tax-Free NY initiative that he’s hoping lawmakers will pass by the end of next week.
The college presidents have all spoken glowingly about the plan, which would allow private businesses to pay no taxes for 10 years if they locate near the campuses.
“As the leadership of SUNY’s 64 campuses, we enthusiastically support Governor Andrew M. Cuomo’s Tax-Free NY initiative,” the letter reads. “This innovative proposal has tremendous promise to strengthen the knowledge economy that is steadily building across our regions and state through the many partnerships between the State University and the business community.”
Cuomo has said that the plan would help the upstate economy and attract new companies to the state. Critics say it’s a tax giveaway at the expense of taxpayers and current businesses.
The legislative session ends June 20.