New York's newly enacted state budget for the fiscal year that started April 1 is balanced with higher-than-anticipated tax receipts, but out-year projected budget gaps have grown significantly larger, according to quarterly financial plan update issued late Friday afternoon by Governor Cuomo's Division of the Budget (DOB).
The Empire Center has posted sortable online databases of per-pupil spending and tax levy increases proposed in 2018-19 school budgets that will go to the voters next Tuesday, May 15.
Nearly half of the 669 school districts seeking voter approval for budgets on Tuesday, May 15 are presenting spending plans that would increase property taxes as high as the 2011 property tax cap law allows, according to an analysis released today by the Empire Center for Public Policy.
"Number one, this money is not being used to fund public priorities. Number two, it's using borrowed money and forcing future taxpayers to pick up the tab for politicians to win political points today," said Ken Girardin, policy analyst at the right-leaning Empire Center for Public Policy.
Last week we slammed the new state budget as an exercise in financial recklessness. But the bad news is still rolling in.
Over the weekend, Gov. Andrew Cuomo and New York's Legislatureagreed on a $168.3 billion budget for the 2019 fiscal year. Before Albany moves on to the next thing - which could be nothing in an election year - let's revisit what it just did and what it means.
Count New York’s government-employee unions among the biggest winners of this year’s budget battle — with taxpayers as the big losers.
In the dead of night, the Legislature adopted language that aims to protect public unions’ political power from a likely US Supreme Court ruling.
The Empire Center, a government watchdog group in Albany, calls it the “biggest, murkiest, pork-barrel slush fund Albany (and perhaps any state capital) has ever seen.”
The allocation is slipped into the state budget without any explanation from legislative leaders and the governor.