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Title : The Four Words Most Feared By A Democratic Governor: Dramatic Drop In Tax Revenue -- February 4, 2019
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The Four Words Most Feared By A Democratic Governor: Dramatic Drop In Tax Revenue -- February 4, 2019

The Big Stories.

The Obama years.

The Doomsday Chronicles.

US States.

From Newsday:

Gov. Andrew M. Cuomo on Monday announced a dramatic drop in state income tax revenue of $2.8 billion, which he says will prompt him to revise his 2019-20 budget and reconsider spending on schools, health care and repairs to roads and bridges.

Cuomo, a Democrat, blamed the shortfall on a federal tax plan backed by Republican President Donald Trump. Cuomo said the law's cap on deductions for state and local taxes at $10,000 was to blame and suggested it is, anecdotally, triggering high-earners to leave New York. 

“At this point there is no doubt that the budget we put forward is not supported by the revenues,” Cuomo said at a State Capitol news conference. “It’s as serious as a heart attack.”

Cuomo said he’s not certain what areas might need to be cut, but said the biggest spending areas now are education, health care, infrastructure and another phase-in of a previously approved middle-class tax cut.

North Dakota Legacy Fund: growing by at least $50 million / month.

Meanwhile, Governor Cuomo bans fracking in upstate New York.

This is not rocket science. 

http://bit.ly/2dZyQXu

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