In an editorial published Sunday, the Syracuse Post Standard has come out in support of The Business Council’s position that $5 billion in one-time revenue the state has received from settlements should be used for rebuilding crumbling infrastructure.should be used for rebuilding crumbling infrastructure.
Quoting from the editorial:
“Momentum is building in Albany to spend the state’s anticipated $5 billion windfall from bank settlements on infrastructure, as we and many others have been suggesting for months.
“Assembly Speaker Sheldon Silver last week said he’d like the Legislature to deal with the surplus in a special session, so that it doesn’t become part of negotiations over the 2014-15 state budget that begin in January. That sounds like a wise move, considering the number of special interests already lobbying for a share of the money.
“As we said in July, the one-shot revenues should not be spent on things that have to be paid for year after year, no matter how worthy they are.
“Lawmakers and Gov. Andrew Cuomo are getting a lot of advice about just what to do with it: retire debt, take a few billion off the top of the Tappan Zee Bridge construction bill, use it for economic development Upstate.
“Our two cents: Spend the money on the desperately unsexy — but desperately necessary — repairs to water lines, sewer systems and the state’s crumbling roads and bridges.”