The Tax Foundation, a non-partisan, fiscally conservative Washington D.C.-based tax research group, honored Gov. Cuomo with its 2014 Outstanding Achievement in State Tax Reform award this week “for championing a comprehensive corporate tax reform bill that will transform New York’s treatment of corporate taxes from one of the worst in the country to one of the best.”
The group has been one of New York State’s harshest critics, and rightfully so. In 2012, it reported that the state had the worst tax climate in the nation, and it has consistently ranked the state’s real property taxes as being among the highest in the nation.
This award recognizes the progress that the state has begun to make progress in terms of reducing our tax burden. Unfortunately, it only recognizes the progress we have made in reducing our corporate tax rate. There remains much, much more work to be done in terms of reducing our state income taxes, and other state taxes (such as taxes on energy and telecommunications services).