The Buffalo Chronicle
State Budget
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New research suggests New York’s top earners are already near the tax ceiling, and Albany should take note
A Tax Foundation summary of new research puts the revenue-maximizing top tax rate near 48%, close to what New York’s highest earners already pay in combined federal and state rates. With a…
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Albany’s $9 billion surplus cuts next year’s budget gap to $2.9 billion, two days before voters pick who spends it
The state’s Mid-Year Update raises tax revenue by $8.1 billion and cuts next year’s gap from $6.4 billion to $2.9 billion. What it means for the governor’s race, the watchdogs’ warnings, and…
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Albany installs a deli-counter ticket machine for its $9 billion surplus, and Western New York pulls No. 4,117
Satire: New York finds $9 billion it didn’t expect, and the line for it runs down State Street. Buffalo, as usual, is near the back.
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Hochul’s budget office warns the data center backlash, including her own pause, could cool the AI boom paying New York’s bills
The state budget director told agencies to hold 2028 requests flat and warned that government scrutiny of AI infrastructure could slow the investment wave behind New York’s $7.3 billion revenue surprise.
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Albany is running $9.7 billion ahead of plan. Its own books say Buffalo shouldn’t count on it lasting
Wall Street’s record run left New York’s General Fund $9.7 billion above projections at midyear. The state’s financial plan still shows $31.7 billion in gaps ahead, and Erie County and Buffalo have…
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Hochul should stop vetoing on-time pay for the nonprofits that do New York’s work
New York signs three of every four nonprofit contracts late, by the comptroller’s count. Gov. Kathy Hochul should sign this year’s prompt-pay bills, and lawmakers should be ready to override a third…
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Buffalo nonprofits press Hochul on late state payments as two contract bills await her decision
Western New York nonprofits that do the state’s work first and get paid later are pushing Gov. Kathy Hochul to sign two contracting bills. She has vetoed versions twice, citing fraud risk…
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New York is $7.3 billion ahead of its tax forecast at midyear. Watchdogs are split on what to do with it
Comptroller DiNapoli reports state tax receipts ran $7.3 billion above projections through September, driven by Wall Street and business taxes, even as $31.7 billion in out-year budget gaps loom.
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Rec and restroom facility projects among fresh DASNY pork
A total of $87 million were steered to 174 new grants for local projects over the past ten months by the Dormitory Authority of the State of New York (DASNY), according to data the Empire…
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For now, Cuomo is still managing the State budget process
BY E.J. McMahon With less than a month to go before the April 1 start of New York State’s 2022 fiscal year, Governor Cuomo has been politically wounded by the allegations of…
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Seeking bigger federal handout, Cuomo proposes record budget
BY E.J. McMAHON Somewhere within that vast fog bank of a FY 2022 Executive Budget that Governor Cuomo began to roll out today is a structural budget gap, opened during the pandemic recession and…
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New Yorkers’ personal income growth rebounded a bit in 2019
BY E.J. McMAHON After a weak 2018, personal income growth matched or exceeded national averages in most parts of New York State in 2019, according to the latest estimates from the federal Commerce Department’s Bureau…
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New York has widened its lead in per-capita spending on Medicaid
BY BILL HAMMOND New York’s per-capita Medicaid spending soared to more than double the nationwide rate in 2018, widening its gap with the other 49 states. New York’s version of Medicaid, a…
