DiNapoli says NY financial plan outlook has improved
New York’s financial picture is much prettieir than it was a few months ago, according to a new report from state Comptroller Thomas DiNapoli. Cumulative four-year budget gaps estimated at $38.7 billion in February have been reduced to $3.4 billion, according to the report. The reduction was fueled by the receipt of substantial new resources, including $15.2 billion in federal assistance and $17.3 billion from tax and other policy actions. “The state’s economic and fiscal outlook have improved,” DiNapoli said. “Local sales tax collections are up significantly, and our May ...