Albany's Costly Regulations Are Hurting the NY Economy

0:00 Speaker 1 Sunday morning with a like every Sunday’s pool Zuber, what’s going on in our state? I mean, he represents three thousand businesses in New York. He’s exactly a vice president of Business Council of the State of New York. And and I see you. It’s Easter Sunday, but I see you crying. Christ has risen since you to be crying.

0:26 Speaker 2 You know what, John, I was telling a friend, like, sometimes I wonder why I still do this sometimes because New York is a very special place when it comes to all the crazy legislation and all the crazy things that are going on, and where somehow common sense is taken out of the equation. So it is, it is frustrating.

0:47 You know. Here, here’s an interesting, interesting fact. Do you know how many bills have been introduced in this legislative the twenty five to twenty sixth legislative session, twenty two thousand, three hundred and ninety eight bills. That’s how many have been there to is now, how to heck? Are all the legislators, all two hundred of them, able to read

1:05 twenty two thousand bills?

1:07 Speaker 1 Impossible? Impossible? Nobody impossible. Remember when they said when Nancy Pelosi ran that big bill in Congress and says, we want you to pass it so you can find out later on what’s in it.

1:20 Speaker 2 Yeah, so, and then that’s what goes on air. So they don’t they most of them are unable to read it. They don’t put a fiscal impact on the bill because they all say when the bills has well, what’s the fiscal impact? They always say to be determined. And we wonder why these bills keep getting passed and we wake

1:38 up the next day and find out that there’s a cost on New York consumers, or they’re not moving bills quick enough that actually have a positive impact on consumers. There’s a bill out there right now and it’s it’s weird issue about hydro floral carbons and refrigeration. Right. Why would anybody care about that? Well, because New York and

2:00 its infinite wisdom has gone completely much further than the federal government requires what hydro floral carbons. So if you own a grocery store, a bodega, a restaurant and your refrigeration system breaks down, you can’t just simply replace the part the way the regulations read. You’re going to have to replace the whole dog on refrigeration unit. That’s potentially

2:23 millions of dollars for businesses, And who’s going to end up getting eating the cost on that. Who’s most going to be impacted when a bodega has to spend seventy thousand dollars for a new refrigerator or a restaurant, It’s going to be the consumer. But nobody wants to wake up and realize, and there’s a bill out there that

2:42 would fix this right, would align with the federal government. This is something that Biden administration put in, So you can’t even make the crazy arguments about well, you know, the Republicans don’t believe in the environment. It would just set things so there’s not additional costs on consumers. So you have something like that where they’re not moving yet.

3:03 In the Senate, they pass a bill that creates rent control on commercial properties. So now there’s going to be a form. There’s potentially a bill out there that would have rent control on commercial properties. So what does everybody think is going to happen? Do they think like the landlord of these commercial properties is going to invest money

3:24 in the commercial properties when there’s suddenly become rent regulated commercial properties how does that First of all, how is it legal right because it’s a taking. But how do we get to the point that we start doing these bills and not thinking about the downstream consequences of these bills.

3:42 It’s maddening and it’s crazy, and we’re wondering why people are leaving the state. And they are leaving the state like no matter what all these groups want to say, because I hear it all the time from these a lot of these progressive groups. Oh no, no, one’s leaving the state. It’s working class people because of lost too much. Well,

4:01 the irs just came out with information. These are where tax returns are being filed. People are leaving it working class and millionaires are leaving New York State. And that’s why you have the state of Florida openly advertising for New Yorkers to come there. That’s why you have people in Dallas, Texas who are literally building new apartment complexes

4:24 for one reason only because they’re waiting for all the New Yorkers to come to Dallas. And it’s happening, and we’re losing a tax base and it’s getting more and more difficult.

4:33 Speaker 1 And I told that to the mayor. I told that to the governor. You know what I said to them, We’re gonna self destruct. And the pickets that came to picket my apartment, they said, you rich guys can afford it, YO, you should pay more taxes. I said, you’re gonna reach your point where everybody’s gonna leave and you’re gonna have nothing,

4:55 nobody paying anybody.

4:57 Speaker 2 But this is but again, this goes back to, like your point, ound, this goes back to why we’re in trouble because people aren’t thinking about the downstream consequences. Okay, if you ask the average person should attack the millionaire, they’ll probably say yes because they’re not a millionaire. But what they forget is those people are the ones that

5:14 are providing the revenue, the large amount of revenue that help operate all those programs that the marit everybody cares about in New York City. So when you drive out that tax base, you’re driving out the revenue necessary to afford these programs that are helping the home lists, that are helping people less fortunate. And what you’re seeing right

5:37 now is if you look at the data through the financial services is probably a great example. If you look at the data with financial services is New York creating jobs in the financial services sector, yes, but compared to other states, it’s infinitesimal. Compared to other states. Other states are expanding their financial services base at astounding rate. New

6:00 York is barely kind of middling along with creating a chefs. And that’s who creates the revenue for all the things that help people who are less fortunate. And people fail to understand this, and they fail to understand that your the opposite impact is going to occur if you keep doing what you’re doing.

6:20 Speaker 1 Understood, I don’t know what the answer is. I really don’t, because there’s a lot of forces against us, and I love New York. I want New York City to survive. I want New York. I said that to the Mayo when I met with him. I want New York State to survive.

6:38 Speaker 2 But I have a solution, John. The legislature should be required to actually do a fiscal analysis on a bill before they pass it, plain and simple, right, so we know how much has costs when they pass this climate law.

6:53 When you look at the bill, it says it says costs to be determined. Now we found out that it’s going to increase gas by over two dollars dollars is going to increase electric bills by over four thousand upstate.

7:04 That should have been done before that bill was passed. And until we start looking at the actual cost, we’re in trouble.

7:10 Speaker 1 It doesn’t make any sense some of the things they’re doing. And the Court of Electricity on those stupid windmills, I hate to put up those windmills again. The cost of electricity on those stupid windmills is going to drive New Yorkers out of business. Well, Paul Zuber, thank you for everything you do, and thank you for bringing everybody, you know,

7:33 everything up to our eyes so we could see it and enjoy. You want to enjoy Easter today, Thank you.

7:43 Speaker 2 Thank you, John, and I hope you and your family enjoy Easter as well. Thank you.