Monica

About Monica Klein

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So far Monica Klein has created 6 blog entries.

Fiscal Year 2025 Revenue Likely to Exceed State Projections by At Least $4 Billion

The DOB’s assumed growth rates for State revenue are very low by historical standards and are out of sync with most forecasts of U.S. economic growth over coming years. FPI expects State revenue growth in FY25 will likely exceed current forecasts by at least $4 billion.

One-House Budgets Wisely Raise Taxes On Wealthiest New Yorkers — But Only Temporarily

In light of New York’s affordability crisis and the need for deeper State investments to lower the cost of living, the one-house budgets wisely invest in affordable housing, healthcare, and higher education. Additionally, the legislature sensibly rejects the Governor’s proposed cuts to public schools and home care worker wages.

2024-04-08T12:44:45-04:00March 12th, 2024|Featured on Home, Press Releases|

Consensus Economic and Revenue Forecast: Finding Quarters in the Couch Cushions

Over the past five budget cycles, the upward revisions to revenue established at the Economic and Revenue Consensus meeting has ranged from 0.6 percent to 1.9 percent of annual state operating funds. While these numbers may seem small in magnitude, the dollar amounts are significant when compared to current cost saving measures proposed in the fiscal year 2025 executive budget. Annualized revenue adjustments average $972 million over the past 6 budget cycles (excluding 2020) compared to a proposed $454 million in school aid cuts and $600 million in cuts to the homecare program CDPAP in this year’s executive budget.

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