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DiNapoli releases lower revenue figures

Feb 18, 2019 12:13 am
Nick Reisman reports at New York State of Politics that New York State Comptroller Tom DiNapoli warned Feb. 15 that state revenue is falling. DiNapoli and Gov. Andrew Cuomo previewed the January revenue numbers earlier, and DiNapoli's report this week means that putting together next year's state budget will be difficult. “New York’s revenue picture is increasingly challenged. The final January revenue numbers for the state released by my office today confirm the substantial shortfall the Governor and I announced earlier this month. In addition, the Division of the Budget’s updated financial plan reduces projected tax receipts in the coming years by billions of dollars,” DiNapoli said in a statement. Cuomo has blamed the lower revenue on the $10,000 cap on state and local tax deductions passed by Republicans in Washington D.C. last year. There is already talk now in Albany of closing three state prisons, and cutting some education spending, to make up for the shortfall. Read the full story at New York State of Politics.
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