Liz Krueger NYS Senate, 28th District / Chair of Senate Finance Committee
January 22, 2019
RE: Comments on the new NY State Budget
Dear Fellow Constituents,
On Tuesday, January 15th Governor Andrew M. Cuomo proposed the Executive Budget for State Fiscal Year 2019-20. The Executive Budget proposes All Funds expenditures of $175.2 billion (2% growth), State Operating Funds expenditures of $102 billion (1.9% growth) and General Fund expenditures of $64.9 billion (2.7% growth). The mid-year update of the State Financial Plan estimated a SFY 2019-20 General Fund gap of $3.1 billion.
Due primarily to weakening Personal Income Tax receipts, the updated General Fund gap for SFY 2019-20 is now $4.6 billion. The recommended Budget proposal closes the gap through spending reductions totaling $3.4 billion and revenue actions totaling $1.3 billion. Out-year budget gaps are forecast to be $4.3 billion in SFY 2020-21, $3.7 billion in SFY 2021-22, and $3.8 billion in SFY 2022-23. The Executive Budget indicates that such gaps will be addressed primarily by unidentifed spending reductions needed to adhere to the two percent spending growth cap.
The Executive Budget also includes significant policy proposals that will require careful review. For example, a system of “congestion charges” in Manhattan south of 60th Street to support transportation system investments, establishing an Offce of Cannabis Management and authorizing adult use of cannabis products, and changes intended to reform the State election system. This analysis prepared by Senate Finance Committee staff will support our careful deliberation of the Executive Budget. I look forward to working with you to craft an enacted State Budget that serves the needs of all New Yorkers while being responsible stewards of public resources.
Liz Krueger's Contact Information
172 State Street Room 905 Legislative Office Building
Albany, NY 12247 United States
Phone: (518) 455-2297
Fax: (518) 426-6874
211 East 43rd Street Suite 401
New York, NY 10017
Phone: (212) 490-9535
Fax: (212) 490-2151
Email address: firstname.lastname@example.org