state budget deficit

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New York’s fiscal year is nearly half over, and the state budget remains billions of dollars out of balance, largely due to the effects of the COVID-19 pandemic related economic shutdown. So far, Governor Andrew Cuomo has been relying on temporary measures to keep the state afloat, but fiscal experts say it’s time to make some hard decisions.


WAER file photo

As schools in New York State grapple with re opening plans during the COVID-19 pandemic, they are also facing a temporary 20% cut in state funding, that could become permanent.


Governor Cuomo's Flickr page

Governor Andrew Cuomo says legalizing recreational marijuana is not going to be part of the state budget this year. Cuomo made his comments as the budget deadline approached with no agreement on how to close a $15 billion budget gap, caused by the fall out from the corona virus.


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The often lengthy state budget hearings began Monday at the Capitol , as legislators heard testimony on Governor Andrew Cuomo’s spending plan and how to close a $6 billion gap. The process however was assailed by both the left and the right.    


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Governor Andrew Cuomo releases his state budget plan Tuesday afternoon, and he’s expected to detail how he will close a $6 billion budget gap. With resistance in the legislature to both new taxes and spending cuts, the governor may have to get creative to thread that needle.


Karen DeWitt / WXXI News

Economists and financial forecasters are warning of an impending recession in New York and the nation. They were speaking at the state Capitol as part of an annual consensus forecast meeting on the state budget. The state is already experiencing some warning signs, with the governor’s budget office predicting a $2.6 billion deficit.


Governor Cuomo's flickr page

Governor Cuomo released a $168 billion budget proposal Tuesday that he says is more of an economic transformation plan aimed at ensuring the state’s viability in light of the federal tax law.  He followed through on an idea presented in his state of the state address to restructure New York’s tax code.  Cuomo says instead of taxing income received by employees, the state would tax wages paid by employers to counter the loss of income deductibility.

file photo / WAER News

Republicans in the State Senate say that, despite the over $4 billion structural deficit, taxes need to be cut further and a property tax cap must be made permanent.

Senate GOP Majority Leader John Flanagan says the state needs to cut income taxes, property taxes and energy taxes, in the midst of a brutally cold winter. And he says some tax cuts for middle class New Yorkers that begin to take effect this year need to be speeded up.

We actually want to accelerate the tax cuts,” Flanagan said.

Scott Willis / WAER News

Onondaga County leaders will be listening closely to Governor Cuomo’s state of the state address Wednesday to find out how he might address the state’s budget deficit.  Priorities laid out in the speech are a strong indicator of the spending plan to be presented to state lawmakers.  The state is at least $4 billion in the red, and county legislature chairman Ryan McMahon says the state will have to tighten its belt, hopefully without burdening residents.