Last Tuesday, Gov. Cuomo released his 2014-15 Executive budget proposal. His budget proposal proses to spend $137.2 billion, $1.8 billion more than this year.
There is a lot of good in the plan, and some not so good. We continue to review the plan, and will be offering testimony to the legislative on those aspects that we take a position on. Our initial view is that we like the fact that Gov. Cuomo is proposing to limit growth in state spending again, and wants to reduce state taxes over the next three years.
A progressive advocacy coalition said this week that they plan to oppose the Governor’s proposal to reduce corporate taxes, arguing that the state should instead target income inequality. Apparently, these groups do not feel that the state should have a sound economy that creates good-paying jobs. The simple fact of the matter is that if we don’t create more jobs, then income inequality will just get worse. We should be doing all we can to stimulate growth, not fight plans that make sense.
Legislative hearings to review the Executive Budget proposal began this morning, and they run through Feb. 11. The state’s 2-14-15 fiscal year begins on April 1, 2014.