Local governments, schools facing budget uncertainty
Mar 27, 2020 8:00 am
Nick Reisman is reporting for the State of Politics blog the state budget process this year is far different than previous years. New York is facing somewhere between a $10 to $15 billion dollar revenue shortfall and with so much uncertainty on when businesses can open and people can start returning to work, Governor Andrew Cuomo is pushing for a budget that can be adjusted month to month based on incoming revenues. This will impact how local governments and schools can spend their money, which already has many groups concerned. “As we now know, New York state is projected to lose billions in tax revenue due to the coronavirus crisis, threatening essential school funding," state Senator Shelly Mayor and chair of the Senate Education Committee, wrote. As a way to avoid education cuts, Mayor backs the adoption of a statewide budget that includes a higher tax rate for anyone who earns $5 million or more. Education advocates are saying this tax revenue could go to high-need districts that rely heavily on state funding. But Cuomo is against increasing taxes on the state’s upper class, saying it will drive them away. The budget is due next Wed., Apr. 1. Read the full story on the State of Politics blog.