Streams

For the latest updates on the weather and your commute on Monday, check out our transit tracker

Paterson Rejects Senate Plan to Refinance Bonds

Thursday, October 22, 2009

Governor Paterson has agreed to delay a special budget cutting session of the legislature, but he's rejecting a Senate plan to refinance some bonds. From Albany here's Karen DeWitt:

REPORTER: Paterson in a public meeting with legislative leaders shot down a plan floated by Senate Democrats to refinance tobacco settlement bonds, a proposal that senators predict could raise $500 million. Paterson says the money is not guaranteed, and it could not come fast enough to pay bills due in less than two months.

PATERSON: We created phony revenues to falsely finance our spending, and we wound up in the place we're in, and I'm stopping it.

REPORTER: A spokesman for the Senate Democrats says senators intend to pursue the idea anyway, believing it's a better option than the Governor's plan to cut education aid in the middle of the school year. In Albany, I'm Karen DeWitt.

Tags:

More in:

Leave a Comment

Email addresses are required but never displayed.

Get the WNYC Morning Brief in your inbox.
We'll send you our top 5 stories every day, plus breaking news and weather.

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