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GOVERNOR ANNOUNCES STATE BUDGET DEFICIT
GOVERNOR ANNOUNCES $47 BILLION STATE BUDGET DEFICIT OVER THE NEXT FOUR YEARS, THE LARGEST IN HISTORY In a press conference on Tuesday October 28, the Governor pegged the current year budget shortfall at $1.5 billion and the shortfall for FY 09-10 at an all time record of $12.5 billion . The total shortfall over the next four years is estimated to be $47 billion. The announcement came as a result of the release of the State's Mid-Year Update to the State Financial Plan. According to the Update, during the next fiscal year - FY 09-10 - the General Fund (non-federal State revenues) is expected to decline by 5.8% while General Fund spending is expected to increase by 11.9%. When all the deficits are added up ($1.5 billion FY 08-09; $12.5 billion 09-10; $15.8 billion 10-11; and, 17.2 billion FY 2011-12) the cummulative total is $47 billion. The Legislature comes back in Albany on November 18th to deal with the current year shortfall of $1.5 billion. However, the Governor is asking the Legislature to cut $2.0 billion in spending, calling the additional $500 million a "downpayment" on next year's budget gap. The Governor stated that "New York is at the epicenter of an extraordinary crisis on Wall Street. We will have no choice but to take bold and aggressive action to reduce State spending." Silver has doubts about millionaire's tax In another development Speaker Silver expressed doubts about an enhanced tax on millionaires which he had formerly proposed. Silver's announcement came as the Legislature gets ready to come back to Albany for a special budget cutting session. An aide to Silver cited "what is happening to the economy and Wall Street in particular" as the reason for the Speaker's hesitation about the tax. It should be noted that Silver's Lower East Side district includes Wall Street. Other reports suggest that the Speaker may not regard the tax as dead yet, but rather on the back burner. NYSARC and other provider associations will meet with the Governor's Office very shortly to continue ongoing discussions about maximizing federal revenues to diminish the impact of the budget deficit on our field. Remember not to let up on contacts to Governor Paterson. Also, this is a good time to contact legislators who are up for election . We advise continuing calls, email s and letters to the Governor . Our strategy is to continually increase the visibility of our concerns with legislators before they come to Albany to work on the budget and with the Governor as he develops the budget prior to sending it to the Legislature . Especially this year, visibility is critical. Remember, the Governor is developing the budget now. SAMPLE MESSAGE: I am the (parent of, family member of, friend of, advocate for) a person with a developmental disability who receives services funded by OMRDD. I have been informed that because of the State's dire fiscal situation extremely harsh cuts will be proposed. I ask you to protect my family member's services. Those services are essential to protect the health, safety, well being and even lives of persons with developmental disabilities. (Feel free to add your own specific concerns ) GOVERNOR'S CONTACT INFORMATION To email or call the Governor, find contact information at: http://www.state.ny.us/governor/contact/index.html To write to the governor: David A. Paterson State Capitol Albany, NY 12224 518-474-8390 LEGISLATIVE CONTACT INFO Assembly contact info zip code look-up: http://assembly.state.ny.us/mem/ Senate contact info zip code look-up: http://www.senate.state.ny.us/sdlookup.nsf/Public_search?OpenForm .............................................................
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This Story Was Updated: 10/29/2008

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