Finance

Cuomo releases state budget proposal, Butler, Tedisco respond

Cuomo releases state budget proposal, Butler, Tedisco respond

$7.4 billion for higher education: An increase of $103 million from past year, but a 2.4 percent cut to community colleges, which have had shrinking enrollment. "Now, as the federal government's tax plan has exposed the governor's tax tricks, we are left with a $4 billion deficit and billions lost in failed in economic development programs, all while our infrastructure is rapidly deteriorating".

"Our state has continuously ranked among the worst states in the country when it comes to property taxes", Stec said.

Errigo represents New York's 133rd Assembly District which includes all of Livingston and portions of Monroe and Steuben counties. He offered the example of eliminating the $420 million taxpayer-funded giveaway to the Hollywood movie and television studios that "parachute into NY and create very few permanent jobs".

"They want to sell to a for-profit or convert".

As to the news of Cuomo inching closer to unveiling his congestion pricing proposal and what impact it has on his own plan to tackle congestion in the city, de Blasio said he is "beginning to see something" and wants to analyze the plan once it is fully presented.

"Direct care workers work with the most vulnerable of our population every day", she said.

Assemblyman Billy Jones (D-Chateaugay) said helping craft the state budget is one of his most solemn duties. The financial plan also includes $175 million in new capital funding for the MTA. Let's hope he makes the investments we so badly need.

The Governor is proposing a 3% spending boost for elementary and secondary education, as well as $10 million dollars for after-school expansion. "This bold agenda charts a path forward toward a better future for all New Yorkers".

The state's education commissioner, Mary Ellen Elia, said she knows it's a tough year, but is disappointed that Cuomo did not agree with the State Board of Regents' recommendation to add $1.6 billion in funding for schools.

Cuomo also suggested introducing charitable contributions, which California is also considering, that would allow New Yorkers to give to a state-run charity and be able to deduct that contribution on their federal taxes. He said both received big tax breaks in the federal tax overhaul, so can afford it.

Payroll tax: Cuomo is considering switching NY from an income-tax system to a payroll-tax system to skirt new federal limits on tax deductions.

The budget plan assumes that certain federal health care programs will continue to be funded, including the Children's Health Insurance Program, which federal lawmakers have yet to reauthorize. Out-year budget gaps and shrinking statutory debt capacity are also growing concerns.

Gov. Andrew Cuomo, saying he wants to protect NY from an "economic missile" fired by the Trump administration, Tuesday offered a $168 billion budget that includes hundreds of millions of dollars in new taxes and fees and opens the door to a payroll tax.

Chief among them is the loss of federal tax deductions for state and local taxes, or "SALT", which Cuomo said would cost New Yorkers an extra $14 billion. As of November, the state had collected $912,000 for the fiscal year-which began in April-putting it on track to surpass the $1 million revised revenue projection.

"The governor's message continues to be about Washington, it continues to be about policies coming out of Washington", Akshar.

Cuomo's speech included his trademark granular details and accompanying slideshow presentation.

"We must increase the efforts of local governments to reduce costs".