LIA economist to report on Bush tax cut issue

Long Island Association economist Pearl Kamer has been asked by her new boss, LIA president Kevin Law, to take a look at the Bush tax cuts and the impact on the Island if they are extended or not.

Her report is due by the LIA's Oct. 13 board meeting, and once it's in, Law said, the Island's largest business and civic group will take a yea or nay vote on whether it thinks the cuts should be extended by the end of this year.

"I think the LIA should be speaking out on tax policy in Washington and Albany," said Law, who took over as LIA president Sept. 7. He replaced Matt Crosson, who resigned after 16 years in the post. "Taxes are what drives Long Island," Law said. "We shouldn't be shy about it."

Kamer said she would take no position before the report is completed: "I have to take a look at the numbers."

Critics say those tax cuts tend to favor the rich, but supporters say it would be bad policy to eliminate any of the cuts in a struggling economy.

Last week two new people were elected to the LIA board: Patricia McMahon, who heads Northrop Grumman Corp. operations on Long Island, and Ellen S. Rudin, who directs CB Richard Ellis' Long Island and New York City outer boroughs operations.