NY State Revenue Millions Off July Projections

Thursday, September 17, 2009

New York State's revenue projections are even worse than predicted from as recently as six weeks ago. Tax receipts are nearly a half billion dollars off projections made on July 31st, and $5 billion less than in the same period last year, according to State Comptroller Tom DiNapoli. He says declines in personal income tax collections are mostly to blame. Governor Paterson says the state is running out of options to balance it's looming budget deficit.

PATERSON: I would assume that we are going to have some tough sledding for at least a year before we are going to see an upturn in our revenues.

But government spending so far this year is up three percent, due mostly to increases in Medicaid and education spending.


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.


Latest Newscast




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


Supported by