Albany’s are already lining up to spend the windfall that the state will receive from a $2.2 billion settlement with a bank as a result of money laundering activities. When combined with other settlements, the state’s 2015-16 state budget may have an additional $4 billion in one-time funds.
We are urging Albany’s lawmakers not to forget the lessons of the last few years. We can’t simply increase spending, and then increase taxes later one to pay for it.
These monies are a one-time thing. We are urging lawmakers to take the fiscally responsible route – use these funds to address some of our essential infrastructure needs including deteriorating roads, bridges and sewers; and pay down some of the state’s incredibly high and costly debt.
We need to avoid making the mistakes of the past. While the state’s fiscal situation has improved in the last four years, there is much more that can be done to improve our economy – especially in Upstate.