Gov. to release budget proposal early
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- October
- 3
ÂÂ ÂÂ Gov. David Paterson, who is participating in a meeting with legislative leaders in New York City, said he wants to releaseÂÂ the proposed 2009-1010 budget Dec. 16 rather than in January and potentially start the new budget year earlier than April 1. The reason is the state’s credit rating could be downgraded because of the state’s financial crisis, he said.
ÂÂ ÂÂ The governor announced that he is calling a Nov. 18 special legislative session for lawmakers to work on further cuts to the current year’s budget. The state is facing a further $1.2 billion budget shortfall because of what has been happening on Wall Street. The session is necessary so the state can meet its statutory responsibility of balancing the budget, Paterson said.ÂÂ This will be the third round of cuts this year.
This entry was posted
on Friday, October 3rd, 2008 at 9:55 am by Cara Matthews.
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