For those focused on protecting and strengthening New York’s economy, yesterday’s action in the U.S. Senate was instructive for understanding who is standing up for New York’s job creators and who isn’t.

U.S. Senator Ben Nelson from Nebraska became the latest Senate Democrat to break with his party leaders and make clear that cutting spending, and not raising taxes, should be the focus over the debt ceiling debate.  Nelson joined fellow Democrat Senator Joe Manchin from West Virginia, who has also voiced his opposition in recent days to the hundreds of billions of dollars in proposed tax increases from Senate Democrat leaders, which would have a disproportionate effect on New York City job creators in particular. This includes targeting the so-called “carried interest” provision used by investment services partnerships which Democrats believe could raise them at least $20 billion in new government tax revenue.

Yet, while some Senate Democrats are voicing their opposition to tax increases, New York’s senior Senator Chuck Schumer is having none of it.  At a Capitol Hill press conference yesterday, Schumer made clear that he is committed to imposing new taxes hikes, and even went so far as to say that this issue “seems to be putting Republicans on their heels on the issue of revenues.”

“It’s a sad day for the New York financial community when they have to rely on Senators from Nebraska and West Virginia to protect them from more government overreach and taxation, instead of their own senior Senator Chuck Schumer.  Not only is Chuck Schumer refusing to stand up for New York job creators, he’s leading the charge against them,” National Republican Senatorial Committee (NRSC) spokesman Brian Walsh said today.

“This debate defines the clear difference between standing before the cameras at a Sunday afternoon press conference, and actually standing up for New York when it matters in Washington,” Walsh concluded.