SC New York News

Senator O'Mara offers his weekly perspective on many of the key challenges and issues facing the Legislature, as well as legislative actions, local initiatives, state programs and policies. This week, he addresses affordability in New York State.

"The straightforward fact remains that every time New Yorkers go to the grocery store, or the gas station, or to buy back-to-school supplies for their children, or to the mailbox to retrieve their next property tax or utility bill, it's a reminder that New York State is one of the least affordable states in America," O'Mara stated.

A recent ranking by Doxo's 2024 Cost of Bills Index placed New York as the seventh most expensive state in the country. "The cost of living is the amount of money it takes to cover basic expenses," according to one news report summarizing the index.

In terms of overall affordability, U.S. News & World Report ranks New York State 45th in the nation. Earlier this year, USA Today Homefront reported that "the Empire State ranked dead last in rankings when it comes to overall affordability." According to USA Today, they analyzed median incomes and five basic expenses: home ownership costs, groceries, health care, income tax and gasoline.

O'Mara noted concerns from various constituents including families and small business owners who are worried about making ends meet. He emphasized that many believe New York has become less economically competitive and hopeful for the future.

Despite acknowledging an affordability crisis leading to significant population loss—over 533,000 people left New York between 2020 and last year—state leaders have continued with high spending and taxes. "New York State's current path is not sustainable," O'Mara asserted.

Fiscal watchdogs project significant state budget deficits due largely to overspending by Governor Hochul and an all-Democrat Legislature. These deficits translate into higher costs for taxpayers.

To address these issues, O'Mara advocates for restoring priorities within state government aimed at economic growth and job creation through tax relief and regulatory reform. His proposed measures include enacting a state spending cap; eliminating unfunded mandates on local governments; providing across-the-board tax relief; rejecting extreme climate proposals; increasing affordable housing options; making child care more accessible; and improving business climates by reducing regulations.

"New York is a state in decline," he concluded. "We are at a critical crossroads and we must enact an across-the-board agenda to cut taxes, address affordability, and rebuild stronger communities."