The state Senate Republican Conference released a report on inflation and unveiled a plan to provide relief to New Yorkers yesterday.
The report proposes a number of actions to address rising inflation, such as targeted tax relief, childcare cost reduction, support for farmers and the lowering of healthcare and housing costs, among other proposed actions.
O’Mara: NYers see state becoming less affordable, less competitive
“New Yorkers across the Southern Tier and Finger Lakes regions I represent, and statewide, are worried about making ends meet. They see this state becoming less safe, less affordable, less free, less economically competitive, less responsible, and far less hopeful for the future,” said state Senator Tom O’Mara in a Monday release.
O’Mara pointed the finger at Albany Democrats for out-of-control spending and what he sees as having no commitment to eliminating taxes, lowering costs, or cutting the red tape on regulations and mandates.
The report, too, linked the economic policies of Democrats to being at least partially to blame for the added impact of inflation on New Yorkers.
Senate Republican Leader Rob Ortt said, “Individuals, families and businesses are struggling under higher costs and the failed policies of One-Party-Rule. Our policy solutions are designed to help the forgotten, hardworking taxpayer; the New Yorker who gets up every single day and works hard to provide for their family; the New Yorker who deserves better than having to decide between filling up the tank or feeding their family.”
Consumer sentiment in New York at its lowest point since 2011
According to the report, inflation is up 9.1% and American households are spending an additional $500 per month due to inflation.
Inflation-adjusted incomes fell one percent in June of this year for a total decrease of 3.6% from 2021.
The New York Index of Consumer Sentiment is at its lowest point since 2011, the report added.