By Glenn Blain
ALBANY — New York faces a “triple threat” of fiscal woes that threaten
to blow a hole in the state’s budget, Controller Thomas DiNapoli warned
Tuesday.
DiNapoli’s office reported that state tax collections during the first
six months of the fiscal year were $386.6 million below projections and
2.1% below the same period from a year ago.
The declining revenues combined with looming cuts to federal aid and an
already-projected budget gap of $4.1 billion for the 2018-19 pose
“serious fiscal challenges” to the state in the coming months, DiNapoli
said.
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Source: The New York Daily News (via The Empire Report)
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