state budget deficit

Governor Cuomo's flickr page

Governor Cuomo released a $168 billion budget proposal Tuesday that he says is more of an economic transformation plan aimed at ensuring the state’s viability in light of the federal tax law.  He followed through on an idea presented in his state of the state address to restructure New York’s tax code.  Cuomo says instead of taxing income received by employees, the state would tax wages paid by employers to counter the loss of income deductibility.

file photo / WAER News

Republicans in the State Senate say that, despite the over $4 billion structural deficit, taxes need to be cut further and a property tax cap must be made permanent.

Senate GOP Majority Leader John Flanagan says the state needs to cut income taxes, property taxes and energy taxes, in the midst of a brutally cold winter. And he says some tax cuts for middle class New Yorkers that begin to take effect this year need to be speeded up.

We actually want to accelerate the tax cuts,” Flanagan said.

Scott Willis / WAER News

Onondaga County leaders will be listening closely to Governor Cuomo’s state of the state address Wednesday to find out how he might address the state’s budget deficit.  Priorities laid out in the speech are a strong indicator of the spending plan to be presented to state lawmakers.  The state is at least $4 billion in the red, and county legislature chairman Ryan McMahon says the state will have to tighten its belt, hopefully without burdening residents.