March 15, 2011

Assembly 2011-12 Budget Resolution:
Balancing Economic Realities with
The Pressing Needs of New Yorkers
Bipartisan Conference Committees Set to Convene to
Resolve Legislative Differences

Assembly Speaker Sheldon Silver, Ways and Means Committee Chair Herman D. Farrell, Jr., and the Assembly Majority today provided highlights of the Assembly's one-house budget resolution.

The $133 billion budget proposal recognizes New York's economic realities by cutting $3.1 billion in year to year spending and closing the state's $10 billion budget deficit.

"Similar to the plight of families throughout New York, we are forced to make some very real, very painful sacrifices in order to bring our economy back to prosperity. The Assembly's budget proposal seeks to protect seniors, children, students and the most vulnerable New Yorkers through human service, school aid and community college restorations. This budget also puts more people back to work by strengthening economic development initiatives and maintaining vital funding for economic development projects," said Silver.

The lawmakers said the house's 2011-12 budget resolution also maintains the Assembly's longstanding commitment to children, seniors and working families by restoring vital investments in education, health and economic development. The Assembly rejects the millionaires tax cut that would put them in the same tax bracket as an individual making $20,000, or a family of four making $40,000.

"When he presented the Executive budget proposal last month, Governor Andrew Cuomo gave the Legislature a strong foundation from which to begin our deliberations. Since then we have conducted open, public hearings on various aspects of his proposal and our house has had the opportunity to discuss the implications on our communities," said Silver. "Today the Assembly is moving forward by advancing our one-house proposal which outlines our priorities. The next step is to move to bipartisan conference committees to resolve legislative differences."

"In response to the state's fiscal challenges, our budget proposal reduces All Funds spending by $3.1 billion over last year," said Farrell. "In addition, our plan supports the Governor's efforts to reform and to streamline government, and to encourage job creation - while making the difficult decisions that ensure all New Yorkers share in the sacrifice."

The $133 billion Assembly budget proposal:

"The Assembly continues to work with Governor Cuomo and with our colleagues in the Senate to enact a timely state budget that meets the needs of working families while at the same time taking into account the economic challenges we face," said Silver. "We believe that, working together, we can achieve the goal of an on-time budget."