Gov. David Paterson and New York legislative leaders now agree the recession will cut projected tax revenues by $2.2 billion, creating a deficit of more than $16 billion for the fiscal year beginning April 1.
The latest forecast by Paterson’s budget division could put a crimp in furious lobbying for more state money for education, health care and other areas as a budget is negotiated behind closed doors.
Paterson’s budget proposal, released in December, anticipated a $13 billion deficit. That grew to more than $14 billion under the Assembly’s projection a month later.
The final deficit won’t be determined under Paterson and legislators agree on spending.
(Source: Associated Press)
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One Response
IN PRIVATE INDUSTRY, PEOPLE ARE TAKING 10-20% PAY CUTS, AND FORCED VACATIONS WITHOUT PAY TO AVOID FIRING PEOPLE.
LET’S SEE THE STATE DO THE SAME, INSTEAD OF STICKING IT TO THE TAXPAYERS BY RAISING TAXES AND FEES.