The Empire Center’s unique online “Explore Your State Budget” app has been updated to reflect data in Gov. Andrew Cuomo’s proposed Executive Budget for the 2018 fiscal year, which begins April 1.
Halfway through his second term as New York’s chief executive, Gov. Cuomo could be approaching a fiscal turning point.
Moving to a $15 minimum wage will cost New York’s Medicaid system more than double what was previously forecast, state budget officials revealed this week
New York may face its first major budget gaps since 2011 as tax revenues are estimated to be less than initially anticipated, state budget records this week showed.
The looming budget gaps could be up to $2 billion in the next two years, which might influence state aid for schools and spending on programs proposed by Gov. Andrew Cuomo.
"This is going to be acid test of his commitment to fiscal restraint," said E.J. McMahon, president of the Empire Center, a fiscally conservative think tank.
The looming repeal of the Affordable Care Act – which suddenly became much more likely with the election of Donald Trump – could open an enormous hole in New York’s state budget.
Albany’s practice of doling out millions in “bullet aid” to certain school districts at the behest of favored legislators has become a familiar ritual of pork-barrel politics. But a little-noticed provision of this year’s budget directs $30 million to a single nursing home in the Bronx, which is unusual even by the standards of New York State government.
New York's new state budget includes the biggest permanent "middle class" income tax cut in 20 years. Gov. Cuomo and the Legislature can pay for it by restraining spending and enacting more tax reform.
New York’s $156 billion budget, enacted on April 1, authorizes the state to spend $4,947 per second during its 2016-17 fiscal year, according to the Empire Center’s updated Spend-O-Meter.