With Surplus, Albany Prepares Tax Cuts Worth Billions
ALBANY, March 24 — Leaders in Albany are negotiating details of a multibillion-dollar tax-cut package for New Yorkers, with relief for married couples, parents and homeowners likely as lawmakers reap the bounty of a $2-billion-to-$4.5 billion surplus...
..."Having these high debt levels in a state where local taxes are the highest in the country is driving the economic condition of the state into peril," said Elizabeth Lynam, deputy research director at the Citizens Budget Commission, a business-backed policy organization. "If they end up increasing spending by as much as they're talking about and supporting it with surplus money, it's going to represent a real lost opportunity," she added.
