Skip to Content

Press Releases

Upstate New Yorkers Thank Rep. Molinaro For Voting To Deliver Inflation & Tax Relief

Molinaro: Inflation Relief Is On The Way For Working Families

Binghamton, NY — Organizations working to end hunger, local businesses, and other community non-profits in Upstate New York today thanked U.S. Rep. Marc Molinaro (NY-19) for voting to pass the Tax Relief for American Families and Workers Act.

The bill passed last week with bipartisan support in the House. President Biden has signaled he will sign it into law.  

Rep. Molinaro said, “Working families need inflation relief, and need it now. With this bipartisan inflation & tax relief bill, help is on the way.”

Mark Bordeau, President & CEO of the Food Bank of the Southern Tier said, “The Food Bank of the Southern Tier applauds Congressman Molinaro’s recent vote in the House to pass an expanded Child Tax Credit. COVID has taught us that public interventions such as the CTC, which allows families to keep more of their own income, are one of the best solutions to address food insecurity and poverty. This legislation will especially help children and families living in rural areas, including 66,000 children in rural parts of New York State. We look forward to continuing to work with our federal lawmakers to address policies that impact food security in the Southern Tier.”

Salavtore Testani, President and CEO of Commerce Chenango said, "Commerce Chenango was pleased to see the recent passing of the Tax Relief for American Families and Workers Act with Congressman Molinaro’s support. The bill upholds important tax provisions that help businesses invest and grow here in Chenango County. We are fortunate to have Congressman Molinaro supporting our local business community here and in Washington.”

Sam Leone, President, Conifer Realty, LLC, the developer of Conifer Village at Cayuga Meadows said, "We appreciate Congressman Molinaro’s support for this important legislation, which is a pivotal step forward in addressing the critical national need for stable and affordable housing for families, seniors and veterans. We urge policymakers to continue to prioritize improving and expanding the Low-Income Housing Tax Credit and send a clear message that as a nation we are committed to building a society where everyone, regardless of their socioeconomic status, has the opportunity to live with dignity and security – something we at Conifer hold deeply.”

Jolie Milstein, president and CEO of the New York State Association for Affordable Housing said, "Since its inception nearly 40 years ago, the Low-Income Housing Tax Credit (LIHTC) has been the primary engine powering the creation of affordable housing in New York and across the nation. Now, as we face a devastating shortage of affordable housing in NY-19 and beyond, it is time to modernize LIHTC and unlock new resources to address this crisis. We applaud Rep. Molinaro and his bipartisan partners for pushing forward with a much-needed plan to improve LIHTC, and his constituents – as well as those in every American community – are counting on the Senate to preserve these critical updates in the final package.”

Jennifer DeFransceso of B&B Forest Products in Cairo said, “In these tough economic times, small businesses are operating on very slim margins. Anything that can be done to give them a chance to make it through is a major help. B&B Forest Products is thankful for Congressman Molinaro’s support of the Tax Relief for American Families and Workers Act, which will help businesses like ours cut expenses and preserve local jobs in New York.”

Jordan Mazzetta, CEO of Hudson Valley Fisheries said, “We are thankful for Congressman Molinaro’s work toward passage of the Tax Relief for American Families and Workers Act. Pro-growth tax policy is an extremely important issue for growing businesses like ours here at Hudson Valley Fisheries.  It is also encouraging to see the U.S. Congress come together to support small businesses and working families across Upstate New York.” 

Specifically, the bipartisan Tax Relief for American Families and Works Act:

  • Expands the Child Tax Credit by adjusting the credit for inflation and eliminating the penalty for larger families to ensure it applies fairly to parents with multiple children. A nonpartisan analysis by the University of Pennsylvania’s Penn-Wharton Budget Model found that these provisions will deliver $20 billion in enhancements.
  • Restores full Research & Development (R&D) expensing so Upstate New York businesses can immediately deduct the cost of their investments, grow in New York, and create jobs. That same nonpartisan analysis found that these provisions will deliver $200 billion in incentives for workers and job creators.
  • Increases supply of affordable housing by enhancing the Low-Income Housing Tax Credit, a public-private partnership with a proven track record, with increased state allocations and a reduced tax-exempt bond financing requirement.