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For Release — October 15, 2009

Business Council strongly supports Gov. Paterson's call to balance the state budget

ALBANY— “Gov. David Paterson has put forward a bold and realistic plan to balance the state budget with needed cuts in spending,” said Kenneth Adams, president & CEO of The Business Council of New York State. “The Governor is showing courage and leadership in advancing a plan to fix New York's $3 billion deficit this fiscal year and larger deficits in the upcoming years. While the “spending lobby” will surely attack this plan with hysteria, Gov. Paterson is right to demand that New York end its culture of unsustainable taxing and spending.”

“The Governor's plan includes fundamental structural reforms that The Business Council strongly supports, including public employee pension reform and imposition of a state spending cap. These reforms can reduce the crushing deficits projected in upcoming budgets,” said Adams.

“In the spring New York tried to balance the budget with new taxes. It did not work. Workers and employers in this state cannot bear more taxes. The legislative leadership must enact the significant spending cuts the Governor is calling for,” said Adams.

“To fuel an economic recovery that will create good jobs New York must reduce the unsustainable levels of state spending to fix this budget crisis. The Governor gets that and his deficit reduction plan reflects it,” concluded Adams.

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