The work he does in Albany and at home to pass laws designed to build a stronger, healthier and more vibrant New York were revealed by New York State Assemblyman, Edward P. Ra in a talk to members of the Mineola-Garden City Rotary Club at its September 17 luncheon meeting at the Garden City Hotel.
Assemblyman Ra discussed mandates on business, noting that New York’s businesses pay a “temporary” employment insurance payroll assessment to cover the state's enormous liability of over $4 billion to the federal government for unemployment insurance.
He said that New York's 18.8 percent workers’ compensation surcharge is approximately five times the national average, that the “Wage Theft Prevention Act” includes a requirement that all private sector businesses annually provide written notice on wages to all employees and retain records of a written acknowledgement of receipt for 6 years and that there are multiple versions of the form depending on the type of employee.
Assemblyman Ra also spoke of Pro-Business Legislation citing the “BizBoom” business startup program, which he co-sponsored. The program would cut all application fees for new business by 50 percent for the first year, eliminate income taxes for the first year and reduce tax rates for the second and third years.
Furthermore, he said that Small Business IRA would allow small businesses in New York to put aside money pre-tax to create a “rainy day” fund that will be available during the economic downturn when banks are less likely to provide loans.
Assemblyman Ra also spoke of the “New Jobs-NY Plan,” which would slash corporate taxes on small businesses by 20 percent and allow for a 10 percent personal income tax credit for the many small business owners who file their taxes as individuals.
Ra is completing his first term as Assemblyman of District 12 and will take over a redesigned district following the 2012 election.
The Mineola-Garden City Rotary Club meets on Mondays at 12:15 p.m. at the Garden City Hotel throughout the year and presents talks by speakers who address and inform about issues of the day. Business people interested in learning about the Rotary's services and membership are invited to attend a complimentary luncheon meeting. Please call Peter Marshal, membership chairman at 516-883-3156.