State Sen. Tom O’Mara joined fellow Republican lawmakers at the Capitol on Wednesday to deliver a blunt assessment of New York’s economic standing, pointing to national rankings that place the state at the bottom for competitiveness and tax climate.
The group argued that persistent outmigration, rising costs, and what they described as unchecked government spending are contributing to a long-term affordability crisis, calling for structural fiscal reforms to reverse the trend.
During the press conference in Albany, lawmakers highlighted findings from national reports that rank New York 50th in economic outlook, a position they say the state has held for more than a decade. They cited metrics tied to tax policy, regulatory conditions, and overall government spending as key drivers behind the ranking.
O’Mara, the ranking member on the Senate Finance Committee, said state leaders must move beyond acknowledging affordability concerns and begin addressing what he described as the underlying causes, including high taxes and regulatory burdens.
Assemblyman Robert Smullen echoed that message, arguing that long-standing fiscal policies have contributed to population decline and economic stagnation. He pointed to continued outmigration since 2020 as evidence that residents and businesses are seeking more affordable environments elsewhere.
Business advocates also weighed in, including Ashley Ranslow of the National Federation of Independent Business, who said small businesses across the state are struggling under what she described as high operating costs and tax burdens. She called for tax relief and regulatory changes to support growth and stability for small employers.
Republican lawmakers said reversing the state’s economic trajectory will require changes to tax policy, spending priorities, and regulatory frameworks, while also addressing broader concerns about affordability for families and businesses.
The press conference comes as debate over New York’s fiscal direction and economic outlook continues in Albany, with lawmakers divided over how best to address rising costs and population shifts.
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