Memo in Opposition: S.5474 (Rivera) / A.6058 (Gottfried)
Date: May 23, 2022
Bill: S.5474 (Rivera) / A.6058 (Gottfried)
Issue: New York Health Plan
MEMO IN OPPOSITION
S.5474 (Rivera) / A.6058 (Gottfried)
ACT would amend the public health law and the state finance law, in relation to establishing the “New York health plan” and to establishing New York Health.
MACNY- The Manufacturers Association opposes (S.5474 (Rivera) /A.6058 (Gottfried), which would create a government run, single-payer health care system in replace of New York’s current system of health coverage. The single-payer system would be financed by a mandatory new payroll tax on both employers and employees, as well as new taxes on other income such as interest and capital gains. Such tax increases would be significant.
An independent study conducted by the RAND Corporation found that the legislation would require at least $210 Billion in new taxes when fully implemented. RAND did not include the cost of long-term care benefits, which requires an additional $40 billion in taxes. This is three times more than what New York State currently collects to pay for everything from schools to roads and bridges. The legislation does not specifically mention the real fiscal or economic impact it could have on New York state, nor does it calculate the amount of new taxes to be imposed.
MACNY, a not-for-profit association representing more than 300 businesses and organizations across Central/Upstate New York, supports and remains committed to universal healthcare coverage. Today, more than 95% of New Yorkers have health care through a combination of private, employer-sponsored and government supported plans.
However, under this legislation, New Yorkers would not have a choice in their health care coverage; the only option available would be the government-run, single-payer system. The indirect consequences of a single-payer system would be the potential loss of hospital revenues and thousands of healthcare jobs, and the real risk of manufacturing companies forced to move operations to another state.
For these above-mentioned reasons, MACNY opposes S.5474/A.6058, which would create a single-payer healthcare system in the New York state.