The Securities Industry Association (SIA)* provides comments to the New York State Assembly on tax raising proposals. SIA urges the Assembly to reject any consideration of these proposals that would restore the Stock Transfer Tax, alter the current treatment of the investment income, and scale back the application of the Investment Tax Credit. SIA believes that adopting these proposals would negatively affect the State and New York City economy, as well as the securities industry in New York.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.