ALBANY— “New York State Comptroller Thomas P. DiNapoli's critique of this year's state budget confirms what The Business Council has been saying since it was enacted. The budget fails New York taxpayers by spending too much and taxing too much,” said Kenneth Adams, president and CEO, The Business Council of New York State.
The Comptroller projects a three-year budget gap of nearly $25 billion, more if the economic downturn is prolonged. He adds that the budget creates an “unsustainable level of spending in future years”.
“We agree with the Comptroller that New York families have adjusted their spending habits to meet the economic crisis and state government must do the same. Unfortunately, this budget fails on that score,” added Adams.
“The Business Council agrees with the Comptroller that Gov. David Paterson's proposed spending cap should serve as a starting point for reform and discussion on how to control spending in future budgets,” said Adams.
The other reform proposals put forward by the Comptroller are also worthy of serious discussion and support.
“New York must find a way to control its spending and reform the budget process. Our economy simply cannot afford the continued excesses in spending and huge deficits created by this budget,” concluded Adams.
The Comptrollers Release and Report is available here.
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