Report Warns High Taxes Threaten New York’s Competitiveness

A new report from the Public Policy Institute of New York State warns that high taxes, heavy regulations, and rising costs are driving businesses and residents out of the state. Surveying over 500 business leaders, the report found 72% rate the state’s economic conditions poorly, and only 2% feel lawmakers represent their interests. New York ranks last in both migration and taxation for 2020–2022, with workforce decline and population loss cited as critical concerns. While critics argue the report exaggerates problems, supporters say reforms are needed to reduce regulatory burdens and improve affordability.

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Source: Rochester First