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Article: CLOSING NEW YORK'S BUDGET GAP.(Main)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- March 8, 1990
CopyrightCOPYRIGHT 1990 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The following budget analysis is from the Manhattan Institute for Policy Research, 42 East 71st St., New York City.
New York faces a serious budget crisis. The state's deficit is estimated to be $700 million in fiscal 1990 and will rise to $3 billion in 1991. The cause of the crisis is less clear. Some observers attribute the deficit to income tax cuts and call for harsh remedies: postponing the long-scheduled final cut in the state's top income tax rate and adding almost a billion dollars in new taxes and fees.
A look at the numbers tells a different story. A research paper released by the Manhattan Institute titled "Closing the Budget Gap: an Analysis ...