Financial Services Overview
SFY 2009-10 Executive Budget Revenue Measures

Staff Contact: Ken Pokalsky
December 29, 2008

Governor Paterson's proposed SFY 2008-09 Deficit Reduction Bill and the SFY 2009-10 Executive Budget contain tax increases which may be of interest to you. The Business Council's Financial Services Committee has identified the following budget proposals as problematic for businesses.

SFY 2008-09 Deficit Reduction Bill

According to the Division of Budget implementation of this bill is necessary to achieve a balanced budget for SFY 2008-09. This bill contains many of the same proposals presented to the Legislature at the November 2008 special emergency session. The ramifications of not implementing this bill before March 31, 2009 are unclear.

SFY 2009-10 Executive Budget proposes $4.2 billion in new taxes.