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New York Must Reform <ul><li>A pattern of high spending growth – combined with recent revenue losses – has put  New York S...
For a quarter century New York State spending has  been growing steadily New York State Operating Fund Disbursements, New ...
Nearly 70% of the budget goes to school aid, Medicaid,  and employee salaries and benefits New York State Operating Spendi...
Personal Income,  Sales / Use, and Business Income Taxes equal three quarters of the base State Operating Revenues by Majo...
The big taxes are shrinking – Down by 23% from last  year and 8% from the original enacted budget projection  for this yea...
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NY Must Reform -- CBC Presentation

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A pattern of high spending growth – combined with recent revenue losses – has put New York State into the worst fiscal condition in decades. Learn more as to why New York must reform, brought to you by the Citizens Budget Commission.

For more information, visit: www.UnshackleUpstate.com

Veröffentlicht in: News & Politik
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NY Must Reform -- CBC Presentation

  1. 1. New York Must Reform <ul><li>A pattern of high spending growth – combined with recent revenue losses – has put New York State into the worst fiscal condition in decades </li></ul><ul><li>We have exhausted the capacity of our traditional solutions – taxing our way out of the problem, borrowing to cover operating shortfalls, and/or burdening local government by pushing costs down – which would both damage the state and leave the structural problems unsolved </li></ul><ul><li>Meaningful spending cuts and more strategic investment of limited resources are the only responsible course of action </li></ul>
  2. 2. For a quarter century New York State spending has been growing steadily New York State Operating Fund Disbursements, New York State Personal Income and U.S. Consumer Price Index , 1984-2009 (indexed, 1985 =100) Sources: State of New York, Office of State Comptroller, United States Department of Labor, Bureau of Labor Statistics, Consumer Price Index, All Urban Consumers (CPI – U), United States Department of Commerce, Bureau of Economic Analysis, Regional Economic Accounts, State Annual Personal Income
  3. 3. Nearly 70% of the budget goes to school aid, Medicaid, and employee salaries and benefits New York State Operating Spending by Major Category $78.2 B Fiscal Year 2008-09 Cash Disbursements Source: New York State Division of Budget, Fiscal Year 2009-10 Financial Plan, First Quarter Update, July 30, 2009
  4. 4. Personal Income, Sales / Use, and Business Income Taxes equal three quarters of the base State Operating Revenues by Major Category $75.2B Fiscal Year 2008-09 Cash Receipts Source: New York State Division of Budget, Fiscal Year 2009-10 Financial Plan, First Quarter Update , July 30, 2009 New York State Division of Budget, Fiscal Year 2009-10 Financial Plan, First Quarter Update , July 30, 2009
  5. 5. The big taxes are shrinking – Down by 23% from last year and 8% from the original enacted budget projection for this year General Fund Tax Collections for Three Major Taxes* April to August - Last Year Compared to this Year Down 23% Source: New York State Comptroller and New York State Division of Budget Notes:*Personal Income Tax adjusted for State-City offset payments $17.0B $13.1B

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