Executive Budget-Spending and Taxes
Spending and Taxes
MEMORANDUM IN SUPPORT
Unshackle Upstate, a non-partisan, pro-taxpayer, pro-economic growth, education and advocacy coalition made up of business and trade organizations from all parts of Upstate New York, wholeheartedly supports the aspects of the Executive Budget pertaining to spending and tax policy. Controlling spending and reducing taxes, fees and assessments continue to be two of the core principles of Unshackle Upstate.
This proposal marks the second year in a row where the Executive has addressed the out-of-control and reckless spending practices that have existed in New York State for years. The Governor’s proposal for the next fiscal year totals $132.5 billion, an increase of 1.9 percent - or $1.7 billion - over the enacted budget for 2011-2012.
According to the New York State Division of the Budget, the 2012-13 budget closes a projected $3.5 billion deficit - through a plan consisting of $2 billion in savings in state spending and “includes no borrowing for operating expenses, no new taxes or other fiscal gimmicks.”
Moreover, this proposed budget significantly addresses “out year” budget gaps, with future deficits now projected to be $715 million for 2013-14 and 2014-15, as opposed to the initially projected deficits of $3.6 billion and $7.1 billion respectively.
In addition to the spending controls proposed by the Governor, Unshackle Upstate supports the Executive Budget in that there are no new or increased taxes or fees. Last year, our organization was very supportive of the 2011-12 Executive and Enacted Budget’s tax and spending policies. We are similarly pleased with the direction outlined this year as well.
Over the next several weeks and months, we urge the Governor, Senate and Assembly to work together, as they did last year, to enact a responsible, on-time state budget that continues to appropriately address spending and taxation, which as a result, makes this state a better place for private sector investment and job creation.
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