STATEMENT

by Kathryn Wylde, President & CEO
PARTNERSHIP FOR NEW YORK CITY

New York, New York
February 26, 2009

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Statement From Kathryn Wylde, President & CEO of the Partnership for New York City, on the 2009-10 State Budget

“This state budget does not reflect the same sense of economic crisis that most New Yorkers are experiencing. It proposes tax increases on business and individuals that will make the state less competitive in attracting talent and new business investment. The business community hopes that this budget marks the beginning of a process in which New Yorkers work together to reform our State’s approach to spending on health care, medical malpractice insurance, economic development, public employee benefits, the tax code, and capital construction. The federal stimulus money and the three-year personal income tax increase are temporary measures that will give the State time to gets its house in order."

The Partnership for New York City (www.pfnyc.org) is a network of business leaders dedicated to enhancing the economy of the five boroughs of New York City and maintaining the city’s position as the center of world commerce, finance and innovation.