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What you need to know for 08/18/2017

DiNapoli see problems with Cuomo budget

DiNapoli see problems with Cuomo budget

New York state’s comptroller says there are some big question marks in Gov. Andrew Cuomo’s budget pr

New York state’s comptroller says there are some big question marks in Gov. Andrew Cuomo’s budget proposal.

Comptroller Thomas DiNapoli says it would increase debt, rely on one-shot revenues, and includes overly optimistic projections of tax revenues.

DiNapoli did credit the budget as a move toward long-term fiscal balance.

Cuomo’s $143 billion proposal is boosted by anticipated federal disaster aid. The current budget is $134 billion.

DiNapoli criticized the 2013-14 spending plan for relying on $1.4 billion in temporary revenue.

DiNapoli also says Wednesday it increases so-called “back-door borrowing” that isn’t subject to voter approval.

The Cuomo administration says DiNapoli’s review was based on misunderstandings and misrepresentations of a balanced budget that controls spending and borrowing.

Senate Republicans have criticized Cuomo’s plan to renew a business tax due to expire.

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