Written by Rob Lillpopp on March 30, 2009 – 4:40 am
Kenneth Adams, president and CEO of the Business Council of New York State told the Daily News about the increased spending in the budget, “What it does contain, though, is $170million in pork-barrel spending for lawmakers to spread around their districts. “This reckless budget ignores economic common sense, crushes New Yorkers with $7 billion in new taxes and slams the brakes on our hopes for recovery.”
The Daily News went on to say -”Gov. Paterson and legislative leaders unveiled a record $131.8 billion tax-and-spend budget deal Sunday night.
Despite Paterson’s repeated warnings about the state’s fiscal crisis, total spending actually increases by $10.5 billion, or 8.7%, according to state leaders. The bulk of that, they say, is $7.2 billion in federal stimulus money that is required to be spent in the coming fiscal year.
The remainder includes $2 billion in spending cuts rejected by lawmakers as well as $1.3 billion in capital and debt service spending. Even without factoring in the stimulus money, state taxpayer-supported funding should grow by at least $800 million, Paterson’s office said.
“These numbers are absolutely staggering, and the height of irresponsibility on the part of the Democrat leadership in this state,” said Senate Minority Leader Dean Skelos (R-L.I.). “The public should be outraged.”
The new package, which lawmakers will begin voting on Tuesday, is said to contain $5.2 billion in new taxes and fees, though critics say it’s likely closer to $7 billion or $8 billion. The biggest increase is a three-year hike in the personal income tax on families making at least $300,000 that is expected to raise $4 billion.”
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