Secretly Crafted Budget Will Destroy New York Economy

June 18, 2010

Assemblyman Gary D. Finch (R,C,I – Springport) today said that the budget bills passed by the Legislature would be harmful to New York’s economic rehabilitation efforts and would leave a large portion of the budget deficit remaining with the majority of the budget already passed.

“Replacing a $650 million economic development program with one costing $250 million not only makes no sense, but it’s the wrong approach to our dilemma. We should be working to expand the tax base, creating more jobs and attracting business, not cutting incentives for businesses. New York’s unemployment numbers are already far too high and severely cutting a program designed to create jobs is not prudent.”

“Just how are we going to close the rest of the budget gap without borrowing? Members on the other side of the aisle were explicitly unable to guarantee that we wouldn’t borrow to close the gap, and with such a large portion of the deficit left with most of the budget already passed, just how are we going to cut the remaining four-plus billion dollars? This is why budget reforms were passed in 2007, and further exemplifies the need for substantial reform.”