The Assembly Majority remains committed to working with Governor Paterson and the State Senate to make the tough choices necessary to address New York's fiscal crisis. We will work with our colleagues in government during the special session on November 18th to bring New York's current state budget back into balance.

The fiscal crisis facing New York will demand bold and aggressive action and we will not shrink from tough choices. We will need to tighten our belt and make deep cuts in spending. At the same time, we must ensure that the burden of New York's fiscal crisis is not borne exclusively by working families and the middle class that depend on government services, and that any solution demands shared sacrifice from every segment of our society.

Spurred by the economic situation, the Assembly began the first in a series of public hearings today in New York City to examine the impact of the global financial crisis on New York State's economy. Our particular focus is determining the impact on working families, businesses and communities. MORE...