Streams

Paterson Has New Proposals for Tackling the Budget Deficit

Monday, January 11, 2010

Governor Paterson says he'll stick to a self-imposed cap on state spending when he releases his budget this month, and even promises to generate a surplus that can be given back to New Yorkers in the form a property tax credit. But the governor is still pushing hard to raise new revenues.

While new taxes will not be the focus of his budget plan, Paterson says when the legislature sees the deep spending cuts he intends to make, some new revenue raisers might be necessary. "The only taxes that would be on the table are dedicated taxes, so a cigarette tax would be dedicated to health care," Paterson says.

The Governor is also considering the making ultimate fighting, a sport that has opponents fighting each other in steel cages, and was banned in New York in the 1990s for being too violent, legal again.

Paterson says borrowing more money is not an option; he doesn't want to risk the state's credit rating. And he says the states rainy day fund is already spent.

The governor is scheduled to release his 2010-2011 budget proposal next week. The state faces a $7 billion budget shortfall.

Tags:

More in:

News, weather, Radiolab, Brian Lehrer and more.
Get the best of WNYC in your inbox, every morning.

Leave a Comment

Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.

Sponsored

Latest Newscast

 

 

Support

WNYC is supported by the Charles H. Revson Foundation: Because a great city needs an informed and engaged public

Feeds

Supported by