Spitzer’s $120 billion budget calls for reforms, spending

Tonawanda news ^ | January 31, 2007 | MICHAEL GORMLEY

[PissAndVinegar]

ALBANY, N.Y. (AP) — Gov. Eliot Spitzer proposed a $120.6 billion state budget Wednesday that he said will cut spending growth, increase school aid by $1.4 billion and provide $1.5 billion to cut local property taxes.

The proposal would increase overall spending, including state and federal funds, by 6.3 percent over the current fiscal plan, projected to total $113.5 billion by the close of the fiscal year. The current budget increased spending by 8.8 percent over 2005-06.

“I believe deeply in the proposals that are articulated in this budget, “ Spitzer told lawmakers in their briefing Wednesday, speaking without notes in detailing the half-foot-thick budget documents. Afterward he said he thought lawmakers were receptive, “but I don’t interpret their applause at the end to mean they will vote for everything,” he said with a laugh.

Spitzer’s general fund budget would increase spending 4.2 percent, compared to the current budget’s general fund increase of 10 percent over the budget for 2005-06. The general fund is the state’s main operating budget.

The proposal also includes $3 billion in reserves, with additions to the state’s so-called rainy day fund and the debt reduction fund.

The 2007-08 executive budget contains no tax increases and fills a projected $1.6 billion deficit, mostly through savings from reforms.

(read on but make sure you're wearing hipwaders)

[PissAndVinegar]

Yeah Socialism!!!

..increase...increase...increase...

All NYers are screwed. This socialist SOB is going to be the deathblow to an already dying state.

[NYleatherneck]

We've been screwed for years.

[crimsonbey]

Can you read? "CUTTING THE BUDGET SPENDING" not increase ... The mayor has been very very fiscally responsible and the governor is the same. They are
trying to cut spending and debt of both state and
city. Unlike people in California.

[PissAndVinegar]

Can you read?

Tell me how increasing aid == cutting spending:

"increase school aid by $1.4 billion"
"Spitzer’s general fund budget would increase spending 4.2 percent"
"Provide all school districts with at least a 3 percent aid increase."
"Provide $165 million over two years to provide health care coverage for 400,000 children without insurance."

oh yea, and as far as Spitzer's "No new taxes" commercial:

"Spitzer said he will collect state sales taxes on Indian reservations "

And Elliot crimsonbey, can you do basic math?
Crunch the increases in spending and decreases in 'Middle class' taxes Versus the incoming revenue, new taxes and increases in fines/fees.

Doesn't quite add up now does it?

[crimsonbey]

look the taxes aren't going up and the tax cut for real estate is reinforced on both the local level (Bloomberg) and state level... Yes Budget went higher but spending growth decreased... Furthermore they are establishing reserves to pay down debt accruing.

Look Bloomberg fired a lot of people and balanced the city budget and now they are cutting taxes (sales). They might also cut state taxes eventually...

[Ouderkirk]

I'm with P&V on this one.

You mark my words, property tax relief will be "targeted".

So if your house is worth more than some arbitrary (I'm picking $300K) number then you won't get tax relief but a tax increase because you have won life's lottery.

If you are making more than some arbitrary(I'm picking $75K) number then you won't get tax relief but a tax increase........

[beekay]

core inflation increase 2.4%
budget increase 6.3%
i see more taxes in my future.
time to start cutting those sweetheart pensions and retirement health benefits given to state and municipal employees.

[KC_Conspirator]

Gov. Eliot Spitzer proposed a $120.6 billion state budget Wednesday that he said will cut spending growth.

Once again, if its a democrat its called "cutting spending growth", but if its a Republican, its called a "budget cut".

[Ouderkirk]

A tax cut looks like this...

you income taxes were 8.2% and they went down to 7.1% and are going to go down again to 6.0%.

Property taxes are going to go from $33 per thousand to $25 per thousand.

They might also cut state taxes eventually...

Yeah Riiight!

[xcamel]

Seeing my "property taxes are only 1/4 the size of my school district tax bill

I say:

"Big Fat Hairy Deal!"

[andy58-in-nh]

For those of you trapped in New York - a little historical perspective:

In 1965, the Federal budget of the United States of America was $118.2 billion.

[Ouderkirk]

Actually that $33 to $25 was a combined figure. And you are correct county taxes are 1/3 of my school taxes, not quite a quarter.

My school taxes are $7800
County taxes are $2800

[xcamel]

$2400(p) / $9500(s)
(Saratoga County - rural)

[anoldafvet]

When I lived in erie County (1977) my taxes were $4800 on a $50K house, now they are $2,100 on a $275K house (In Louisville, KY). Incidentally, a budget increase of 6.3% is not a "cut" even if it increased 10% the previous year.

[antiRepublicrat]

Tell me how increasing aid == cutting spending:

If you make a budget that plans for a 10% spending increase, then kill it and make one that plans for a 5% spending increase, then you get to claim you are lowering spending by 5%.

Likewise, if last year's spending grew by 15% and you only grow this year's spending by 10%, then you get to claim you are lowering spending by 5%.

The federal government does this trick, too.