Paterson: New Taxes May Be Necessary To Balance Budget

publicbroadcasting.net:

Governor David Paterson says he will stick to a self imposed cap on state spending when he releases his budget later this month, and promises to even generate a surplus that can be given back to New Yorkers in the form a property tax credit. The governor also says he could support new taxes on cigarettes, as a way to raise revenues to help close the state's budget deficit.

Paterson says new taxes will not be a significant part of his budget plan, he instead will concentrate on deep spending cuts. But he says he understands that when the legislature sees his proposed slashes to programs, some new revenue raisers may be necessary.

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Comments

[pbnyc59]

08:21 AM on 01/13/2010

He is so way over his head. They shoot horses, don't they?

Perhaps he should spend more time taking care of his kid, being taken in by the cops for throwing dice? I'm sure that's the whole story.

[patches12]

02:34 PM on 01/12/2010

That is exactly what NY needs to do. It worked well in California. Meanwhile the good jobs and high earners continue to flee the state.