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As revenue drops, concern about the proposed state budget rises (Wealthy NYers leaving)
Newsday.com ^ | 2/4/2019 | Michael Gormley

Posted on 02/04/2019 7:32:31 PM PST by Beave Meister

ALBANY — Gov. Andrew M. Cuomo on Monday announced a dramatic drop in state income tax revenue of $2.8 billion, which he says will prompt him to revise his 2019-20 budget and reconsider spending on schools, health care and repairs to roads and bridges.

Cuomo, a Democrat, blamed the shortfall on a federal tax plan backed by Republican President Donald Trump. Cuomo said the law's cap on deductions for state and local taxes at $10,000 was to blame and suggested it is, anecdotally, triggering high-earners to leave New York.

“At this point there is no doubt that the budget we put forward is not supported by the revenues,” Cuomo said at a State Capitol news conference. “It’s as serious as a heart attack.”

Cuomo said he’s not certain what areas might need to be cut, but said the biggest spending areas now are education, health care, infrastructure and another phase-in of a previously approved middle-class tax cut.

The hole in revenues in December, which some analysts have called a December surprise, and continued poor performance in January have created a $2.3 billion drop in anticipated revenues, according to the Cuomo administration. Add that to the $500 million drop in revenues for December that the Cuomo administration had previously projected and the revenue hole is $2.8 billion, according to Cuomo Budget Director Robert Mujica.

(Excerpt) Read more at newsday.com ...


TOPICS: Chit/Chat
KEYWORDS: andrewcuomo; budget; communism; communist; cuomo; democrats; djt; dnctalkingpoint; dnctalkingpoints; donaldtrump; education; globalwarminghoax; gop; govcuomo; healthcare; incometaxes; infrastructure; mediawingofthednc; michaelgormley; middleclass; newyork; newyorkcity; ny; partisanmediashills; presstitutes; republicans; revenue; robertmujica; smearmachine; socialist; taxcutsandjobsact; taxes; taxreform; taxrevenue; tcja; trump
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To: morphing libertarian

LOL THING


61 posted on 02/05/2019 11:56:01 AM PST by morphing libertarian (Use Comey's Report; Indict Hillary now; build Kate's wall. --- Proud Smelly Walmart Deplorable)
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To: Beave Meister

What percent of the budget constitutes patronage and payoffs? 50%?


62 posted on 02/05/2019 11:56:23 AM PST by WashingtonSource
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To: morphing libertarian
cal has another interesting thong.

That might be a little TOO much information ...

63 posted on 02/05/2019 11:58:54 AM PST by BlueLancer (Orchides Forum Trahite - Cordes Et Mentes Veniant)
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To: BlueLancer

now cut that out! LOL


64 posted on 02/05/2019 12:00:21 PM PST by morphing libertarian (Use Comey's Report; Indict Hillary now; build Kate's wall. --- Proud Smelly Walmart Deplorable)
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To: Svartalfiar

You are correct, it is merely a notional drawing.


65 posted on 02/05/2019 6:24:47 PM PST by Lonesome in Massachussets (Schumer delenda est.)
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To: morphing libertarian

Do California cities have income taxes?


66 posted on 02/06/2019 4:00:23 AM PST by kearnyirish2 (Affirmative action is economic warfare against white males (and therefore white families).)
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To: kearnyirish2

Not to my knowledge. State goes up to 13


67 posted on 02/06/2019 6:39:47 AM PST by morphing libertarian (Use Comey's Report; Indict Hillary now; build Kate's wall. --- Proud Smelly Walmart Deplorable)
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To: 1Old Pro

Bingo. Only the smarter black people in the US have put together the pieces and realized that the Democrats are pursuing nothing less than a policy of genocide against blacks.

When the monolithic black vote breaks up, the Democrats will discard any pretense and embrace any means to kill as many blacks as possible.


68 posted on 02/06/2019 1:50:10 PM PST by yefragetuwrabrumuy ("There is no 'try' only sasuga!")
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To: morphing libertarian

I see; well, there is one difference!


69 posted on 02/07/2019 2:26:33 AM PST by kearnyirish2 (Affirmative action is economic warfare against white males (and therefore white families).)
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To: Beave Meister

Wasn’t it Cuomo who said he didn’t want people without “New York values” to live in New York?

He as much as listed all the republican platform and said, on more than one occasion, that those people weren’t needed in NY.

That would have been the day I contacted my realtor.


70 posted on 02/07/2019 3:02:35 AM PST by Maris Crane
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