Empire State Today

Ashley Ranslow, New York State Director of the National Federation of Independent Business (NFIB), discussed the decrease in sales tax revenue in New York State with the Albany Times Union. Ranslow attributed the drop to reduced consumer spending, a result of inflationary pressures.

"Inflation began to hit consumers hard in recent years and hasn’t let up much since. That’s forced consumers to make difficult choices that’s often led to a restraint on spending," Ranslow noted. She further explained, "Keep in mind, these counties are down [in sales tax revenue] and with higher prices. I think the toll of inflation, you’re really starting to see that now…There is a lot of uncertainty, particularly among small business owners and a lot of pessimism."

Ranslow expressed concerns about the current economic climate, adding, "I think everyone feels like they don’t know what’s going to happen next."