Tag: Budgets

Economic conditions have obvious implications for the work of this Committee and for the Legislature in general. We are in the midst of a potentially severe and long-lasting global recession. But for New York State, the recession is only part of the problem. Fueled by the super-heated profits of the securities industry, mixed with gains from a now-popped real estate bubble, the surge in state tax revenues over the past five years was as big as anything New York has experienced during any previous five-year stretch in the last 35 years. Read More

In his first annual address to legislators last week, Gov. David A. Paterson said, "The state of our state is perilous." Yet his energy platform promises to visit more peril upon the Empire State. Read More

Now that they control both houses of the New York State Legislature, Democrats in Albany are reportedly preparing to raise the state income tax on high-income New Yorkers to help plug a $15 billion budget gap. Read More

Education advocates in the Hudson Valley and throughout New York state are predicting thousands of teachers and aides will lose their jobs if the Legislature adopts Gov. David Paterson's proposed school-aid cuts for the coming year. Read More

E.J. McMahon testified before the Joint Legislative Fiscal Committees. Read More

New York's public employee unions are spearheading a campaign to raise state income taxes on the wealthiest households as an alternative to Gov. David Paterson's proposed budget cuts. Read More

Governor David Paterson is being pressured by some of his fellow Democrats to raise income taxes on the wealthiest households in response to New York States $13 billion state budget gap. Read More

Wall Street’s woes leave the state no choice but to slash spending. David Paterson took the oath as governor of New York on March 17, 2008, succeeding the disgraced Eliot Spitzer on the same day that Bear Stearns collapsed. Read More