New York Comptroller: Can Revenues Support New Spending?
The state’s top fiscal officer says he welcomes the news of the passage of a budget but Comptroller Thomas DiNapoli says he’s keeping a close eye on the bottom line.
DiNapoli issued a statement over the weekend saying growing geopolitical uncertainty with the Russian invasion of Ukraine, persistently high inflation and the continuing impacts of the COVID pandemic raise concerns and his office will be analyzing the enacted budget over the next few weeks.
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The Comptroller says he’s pleased the $220-billion budget signed by the Governor on Saturday, April 9 provides tax relief to help the middle class and small businesses. He also praises efforts to boost wages for health care workers and make investments in green energy.
DiNapoli says he wants to see assurances that a commitment to building up reserves will continue as many of the new programs in the budget will add recurring spending without clear information on what recurring revenues will be supporting those programs.
DiNapoli says he expects to release a detailed analysis of the budget in the coming weeks.