Your current web browser is outdated. For best viewing experience, please consider upgrading to the latest version.

Contact

Send a question or comment using the form below. This message may be routed through support staff.

Email Article

ERROR
Main Error Mesage Here
More detailed message would go here to provide context for the user and how to proceed
ERROR
Main Error Mesage Here
More detailed message would go here to provide context for the user and how to proceed
search DONATE
Close Nav

Behind Andrew Cuomo’s Stall on Slashing Spending to Balance NY’s Budget

back to top
commentary

Behind Andrew Cuomo’s Stall on Slashing Spending to Balance NY’s Budget

New York Post May 27, 2020
Urban PolicyTax & BudgetNYC

On April 2, with New York’s COVID-19 curve still rising ominously, state lawmakers wrapped up a budget almost unchanged from Gov. Andrew Cuomo’s pre-pandemic January proposal. With the economy in a coma and revenues crashing, the plan obviously was awash in red ink.

“We can’t spend what we don’t have,” Cuomo said, implying he would do what was necessary to restore balance. Armed with ­unusual enhanced power to bring spending into line with revenues, he has repeatedly warned he might slash some programs by 20 percent.

But so far, two months into the fiscal year, the governor hasn’t pulled the trigger on any cuts — or even released a list of what he is aiming at. Instead, Cuomo has been playing for time and snowplowing bigger problems into the future.

The governor assumes that Republicans and Democrats in Washington will agree to a fourth huge stimulus bill, including general budget relief for states and localities. That’s probably a safe bet, although the final deal may not come until late June.

Meanwhile, egged on by the state’s teachers’ unions, the Legislature’s income-redistribution fantasists have introduced bills they claim can balance the budget with massive tax hikes on “millionaires and billionaires.”

Cuomo knows better. In the past, he has warned: “God forbid the rich leave” — and now, fleeing COVID-19, many have done just that. Fear of a resurgent ­virus, or the prospect of tax hikes, or both, could prompt more than a few to stay away.

Continue reading the entire piece here at the New York Post

______________________

E.J. McMahon is an adjunct fellow at the Manhattan Institute and research director at the Empire Center for Public Policy. Follow him on Twitter here.

Photo by Spencer Platt/Getty Images

Saved!
Close