New York State Needs to Help Working Families Reeling From Inflation
Opinion Advocates for ideas and draws conclusions based on the author/producer’s interpretation of facts and data.
By Matt Slater
The grim reality of the worst inflation in 40 years and a broken supply chain that is causing the rising cost of living is on the minds of every American. We are breaking records for the cost of gasoline at the pumps and the price of everyday staples, like meat, milk and diapers, continue to skyrocket.
According to new Labor Department data, the cost of groceries was up 12 percent in May compared to one year ago. This is the biggest jump since 1979. Inflation is projected to cost hardworking families thousands of dollars more this year.
I hear it in our communities every day from scared families, worried seniors and concerned small business owners. Restaurant prices alone climbed 7.4 percent in the past year, which is the sharpest 12-month gain since 1981. The cost of ordinary necessities is pushing us all to the brink, and we are not seeing any meaningful action from Washington or Albany.
We know the Biden Administration’s energy policies are failing, and they can’t fix the broken supply chain – just ask parents with newborns struggling to find formula. Unfortunately, Gov. Hochul and the New York City Democrats who control both chambers of the state legislature have exacerbated the pressures on our economy and its crushing impact on household budgets.
It is hard to believe that not long ago there was in fact a time when we had a two-party system with checks and balances in the state capitol. While New York City Democrats in the Assembly prevented a state spending cap from becoming law, the budgets that were agreed upon did adhere to the basic principles of limiting the growth of the state’s operational spending.
That said, in the four years since Democrats captured supermajority control over the Senate and Assembly, the state budget has increased by more than $40 billion and, according to a report released by Albany watchdog the Empire Center, “state operating funds spending is set to rise this year by $14 billion or 12 percent, after adjusting for accounting maneuvers. That’s a near-record increase in state-sourced spending, even discounting inflation.”
This recklessness on the state level is further fueling the inflation tax that has imposed a devastating new burden on families and, when coupled with Albany’s reliance on some of the nation’s highest taxes on gasoline, the ongoing exodus of New Yorkers to lower tax states like Florida has been supercharged.
From 2019 to 2020, New York State lost 248,387 residents—costing the state more than $19 billion in income. Independent nonprofit research firm Wirepoints calculated that this was the worst net income loss of any state in the country.
As supervisor of the Town of Yorktown, I experienced firsthand the importance of the state property tax cap in controlling local taxes and spending. During my tenure I am proud to report that we responsibly reduced Yorktown’s budgeted spending by more than $7 million, reduced the tax levy and cut town property taxes for the first time in 25 years.
Now that I am a candidate for the state Assembly, I am focused on imposing that same fiscal discipline on the politicians in Albany by finally enacting the state spending cap into law. With state spending increases more than doubling the rate of inflation over the last five years and no end to the inflation crisis in sight, this has never been more important.
Make no mistake, New York is in a deep financial hole, and the first step to getting out is to stop digging. We need to elect the right leaders who will have the common sense to put down the shovel.
Matt Slater is supervisor of the Town of Yorktown and the Republican candidate for the 94th Assembly District.
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