ALBANY—And the New York State budget shortfall is now…$16.2 billion!
David Paterson’s budget office just put out a release that says the gap has grown due to lower-than-expected tax revenues and the lack of payment from the Delaware North racing franchise since lawmakers enacted a plan to bridge the current year’s deficit in February.
The release ends with this sentence: “The Governor and Legislature will accommodate these new costs as part of a fiscally responsible Enacted Budget.”
GOVERNOR PATERSON, MAJORITY LEADER SMITH AND SPEAKER SILVER ANNOUNCE ADDITIONAL $2.2 BILLION DECLINE IN PROJECTED STATE REVENUES
Combined with $1 Billion Loss in Tax Collections Agreed to Through Revenue Consensus Process, Overall Decline in Anticipated Revenues Totals $3.