Senator Gallivan & Members of the Minority Conference Unveil Affordability Agenda

Senator Patrick M. Gallivan, (R-C, Elma) and members of the Senate Minority Conference are calling for the inclusion of several pieces of legislation in the enacted state budget that would provide relief and help ease the affordability crisis facing many New Yorkers. 

These bills are part of the Conference’s “Liberate New York” 2025 Legislative Agenda and are aimed at helping families and businesses who are struggling under high taxes and skyrocketing costs on everything from utilities to housing.  

“The issue I hear the most about when I talk with constituents is the high cost of living,” Senator Gallivan said. “Rising consumer prices and high taxes are making it increasingly more difficult for families and businesses to stay in New York.  This package of legislation will help make our state more affordable by providing meaningful relief for residents and helping workers keep more of their hard-earned money.”  

The package of legislation includes: 

S.587 - Exempts state taxes from cash tips.

S.850 - Establishes the First-time Homebuyer Tax Credit Act.

S.1487 - Providing a $464 million tax cut to support small businesses by raising the corporate tax threshold from $390,000 to $500,000 and lowering the rate to 2.5%; expanding the small business exemption to all PIT businesses, regardless of whether they have employees and increasing the threshold to $500,000, raising the exemption to 15%, and setting the exemption at 20% for farmers. 

S.3914 - Exempts state taxes from overtime compensation.

S.4487 - Supplementing the State’s existing child tax credit by providing a $1,000 “baby bonus” refundable tax credit for all parents of newborns.

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