NYS Has Dug Its budget Into Its Deepest Hole On Record

Another reason to divide. In the pre-dawn hours of April 3 2020—with much of the state’s economy shut down in response to the pandemic, state and local tax receipts drying up, and the COVID-19 death toll climbing--the NYS Legislature completed passage of a budget that authorized state operating funds spending of more than $103 billion,  increase over last year.Within hours, Cuomo held a news conference in which he praised the budget as “an extraordinary accomplishment” — and, in almost the next breath, acknowledged that the state faced a revenue shortfall of $10 billion, which he blamed on the coronavirus crisis. In other words, the state started the year $10 billion in the hole!

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