Assembly Minority Leader Brian M. Kolb (R,I,C-Canandaigua) and Members of the Assembly Minority Conference today released a fiscal analysis of Governor David Paterson's 2010-11 Executive Budget. The analysis found that, if enacted, the Governor's spending plan would cost the average New York family of four $1,812 annually.
The analysis, compiled by the Assembly Minority Conference's Ways and Means Committee, examined all the taxes, fees, surcharges and other actions - such as the annual cost of state debt service - contained within the Governor's spending plan. The cumulative fiscal impact to an average family of four is estimated at $1,812 yearly, if the Governor's budget were enacted with no modifications. The assumptions for an average family of four were based on a state population of 19.6 million, with 4.9 million families of four and a median household income of $53,448. Further details on the methodology and assumptions employed to assess the fiscal impact of the Governor's budget is included within the Ways and Means item accompanying this press release.
"Last year, the Governor's budget imposed nearly $3,873 in costs on an average New York family of four. Adding to that burden would be an additional $1,812 in expenses from his 2010-11 Executive Budget. This totals nearly $6,000 in extra costs for families struggling in a recession and paying the nation's second highest combined state and local tax burden. We need to focus on reducing government spending, not increasing the crushing costs New York families already endure," Kolb said.
"The state is in fiscal crisis caused by years of over-spending, over-borrowing and over-taxing. New York families and businesses cannot afford one more dime in new taxes or fees. Instead, the proposed state budget again picks the pockets of New York families, by $1,800 for a family of four. And, as if there was nothing wrong with this, some liberal legislators and special interest lobbyists want more spending, more borrowing and more taxes that New York simply cannot afford," said Assemblyman Jim Hayes (R,C-Amherst), the Ranking Minority member on the Assembly Ways and Means Committee.
Governor Paterson's budget was unveiled to the public and policy makers on Tuesday, January 19. The New York Times and other media outlets have already reported on the Governor's budget containing over $1 billion in new taxes, fees, surcharges and other actions.
Click here to view a copy of the Assembly Minority Conference's Ways and Means Committee fiscal analysis of the Governor's 2010-11 Executive Budget and the $1,812 in costs it would impose on an average NY family of four.