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Whether it's cutting taxes, eliminating unnecessary regulations or reducing workers' compensation costs, we know that lowering the cost of doing business is a proven way to create new jobs and that's exactly what we've done in New York during the past 11 years. But we must continue to do more to improve New York's business climate, expand the State's job-creation efforts and keep New York business competitive in the global marketplace.
That is why I recently proposed a comprehensive plan to reform New York's Workers' Compensation System -- one of the biggest costs for businesses, and if left unchecked a major impediment to creating new jobs, especially in the manufacturing industry.
We're working hard to help manufacturing-based businesses, such as Delphi in Western New York, stay competitive in the global economy and protect thousands of New York jobs. The chairman of Delphi Corporation, which employs nearly 6,000 people in Western New York, recently said that New York's workers' compensation rules make it harder to do business in the state.
I believe we must do everything in our power to enact meaningful changes to the workers compensation system, to make it easier to do business in New York and create new jobs in New York. In all, my plan would reduce the average premium rates for businesses by 15%, generating more than $840 million in system savings while also supporting injured workers by increasing the maximum weekly compensation benefits by 25%.
This would be achieved by creating a system of tiered benefit levels for injuries that are not currently provided under the law; reducing litigation; better coordinating anti-fraud efforts; and ensuring that benefits are provided in a more efficient and cost-effective manner.
In 1996, I proposed and worked with the Legislature to achieve historic and long overdue reforms to the workers' compensation system, which have already reduced costs for businesses by 25 percent. I believe that we can work together again to reform the system.
These new reforms strike a balance between controlling costs for those who create jobs - businesses -- with the needs of workers who risk their health and safety to provide for their families. I look forward to working with the Legislature to further reform the workers' compensation system, but we must act now.
11-22-05
© 2005 North
Country Gazette
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