This week, Big I NY joined fifty business organizations in calling on the state legislature to use up to $3B in state funds to provide desperately-needed relief from rising unemployment insurance (UI) taxes. Soaring UI taxes demand the State's attention - inaction will only delay New York's economic recovery. According to the New York State Comptroller, compared to contributions made in 2020, total state and federal UI taxes paid by New York employers will increase by at least 45.4 percent to as much as 254 percent in 2025.3 This would be catastrophic for our state's job creators.
The proposed Assembly Insurance Committee hearing to evaluate the impacts of COVID-19 on the insurance hearing has been postponed. That means there is still time to share your feedback! What issues and frustrations have you and your customers experienced during the pandemic, specifically as it relates to insurance laws, regulations, or coverage? Click here to let us know!
On Thursday, a judge stated that the state's elections will proceed with the new district maps proposed by the state legislature, despite a lawsuit challenging their constitutionality. Steuben County Judge Patrick McAllister stated that it was “highly unlikely" new maps could be drawn in time for the June primaries and November election, and raised the possibility of calling new elections next year if the current maps are ruled unconstitutional. This scenario has occurred only once before in NY – in 1964, state legislators served a one-year term before running again in 1965 on new district maps after the 1964 maps were declared unconstitutional.