Senate fiscal plan will spend less than Executive BudgetJanuary 1998
Both houses release budget analyses, promise early action
Senate Majority Leader Joseph L. Bruno said the Senate will pass a budget that spends less than Governor Pataki's proposal, while including additional tax cuts "to encourage more job growth."
"The proposed budget provides sufficient spending to address the needs of the people," Senator Bruno said. "However, the budget the Senate passes will spend less than the one proposed last week. I want to make it very clear that the $71.9 billion total will be the ceiling for state spending, not the floor."
Such action, if approved by the Assembly, would represent the first time in recent history the Legislature has cut spending from the level proposed by a Governor. Traditionally, the Legislature adds significantly to the proposal.
Senator Bruno said his house will address concerns about "the proposed distribution of aid to education."
An additional priority will be enactment of new business tax cuts, he said. The Senate has proposed a sweeping tax-reduction package that is strongly supported by The Business Council.
The Senate review of the budget points out that job growth rates "are the highest rates achieved in New York State in a decade."
The Assembly's budget analysis compares those rates to other states' and finds New York lagging behind most others, both nationally and regionally.
Senator Bruno promised action on the budget in his house by mid-March. And Fred Jacobs, counsel to Speaker Sheldon Silver, told The Business Council's Government Affairs Steering Committee an on-time budget is more likely this year, partly because of narrower disagreement over revenue projections.
January 29, 1998