Jan 19, 2017

Cuomo presents Executive Budget plan

Gov. Andrew M. Cuomo presented his $150+ billion budget proposal privately to legislators this week. New York faces its first significant budget gaps in recent years, with a projected deficit of about $1 billion that could more than double over the next two years.

Cuomo has pledged to keep state spending growth to less than 2 percent a year, despite major increases in school aid in recent years. In his budget, Cuomo proposed State Operating Funds spending at $98.06 billion in FY 2018—an increase of 1.9 percent. (State Operating Funds exclude federal funds and capital) and All Funds spending at $152.3 billion for FY 2018.

The budget also enables access to ride hailing across New York state by allowing Transportation Network Cos. to operate outside New York City and by creating uniform licensing requirements.

This year, Cuomo is proposing free tuition at the state’s 64 SUNY campuses, as well as a $2 billion clean water fund. He also is seeking a child-care tax credit for the middle class and a 750-mile recreation trail that stretches across New York. The budget, which in the current year totaled $148 billion, will now go to the state Legislature, which has a March 31 deadline to have an on-time deal.