Analysis: Gov. Cuomo's budget to be a tough act
ALBANY, N.Y. (AP) - Governor Andrew Cuomo's budget presentation Tuesday is expected to steer the Democrat back toward fiscal conservatism from the liberal bend he's been on since December.
Politically, that's wise. Fiscally, it's unavoidable. Cuomo's budget will include $1.9 billion in new spending; a promised $1.4 billion increase in funding for public schools and health care; and $250 million the state will need to pay to offset a New York City transit payroll tax cut. There's also $50 million promised to upstate communities still trying to recover from late summer floods. It adds up to a fourth consecutive difficult fiscal year for New York. State agencies are told to expect 2.5 percent cuts, this after cuts totaling 30 percent since 2007. The millionaire tax trims the deficit, but it's still $2 billion. (Copyright 2012 by The Associated Press. All Rights Reserved.) |
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