Signs of a coming New York state budget crisis

Editorial Board  |  October 25, 2017

Editorial, includes “If Tom DiNapoli’s new report on state finances is any guide, Gov. Cuomo’s luck may be about to run out. As the Empire Center’s E.J. McMahon notes, the state comptroller’s latest cash report cites tax receipts $387 million short of recent projections — and $2 billion below what Cuomo counted on in January. Lower personal-income-tax payments are mostly to blame. That, McMahon adds, may reflect a sluggish economy or high-income households fleeing the state.”

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