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sisyphusshruggedFacing a deep deficit in the state budget, Gov. George E. Pataki today hitched New York's financial recovery to the Bush administration's plans for healing the national recession: a swift new round of tax cuts.
Specifically, the governor singled out for praise a proposal to eliminate taxes on corporate dividends paid to taxpayers, the centerpiece of the plan President Bush announced on Jan. 7 for kick-starting the stalled economy.
"The president's new economic stimulus plan will help New Yorkers, specifically his proposal to eliminate the double taxation of dividends," Mr. Pataki said in his first public statements since the Bush announcement. "This element of his stimulus package will help a financial industry in New York that is hurting."
But Mr. Pataki was noticeably silent on the question of whether New York, whose income tax laws are tied to the federal laws, would enact changes to keep it from automatically following the federal government's lead.
Some state officials, mostly Democrats, have said that the Bush proposal will hurt New York at a time when it faces a cumulative deficit of $12 billion and needs every source of revenue it possesses.
Alan G. Hevesi, the state comptroller, said that if the state piggybacks on the federal plan and decides it will also stop collecting a dividend tax, it could lose $551 million in revenues in the fiscal year that begins April 1, and $2.5 billion over four years.
He is, they say, going to gut Medicaid for New Yorkers to balance the budget.
What a guy.
All you folks who thought this guy was a fair trade for what he promised you during the election?
Thanks a lot, suckers.
In other news, from the New York Times, which surely has not yet found reason to regret their endorsement of the "fiscally responsible" governor over his opponent, the state comptroller who fought off his repeated attempts to tank the budget:
It is well known that the clock ticks at a different speed in Albany, where New York State's business always takes longer than is necessary. That habitual torpor, however, does not excuse Gov. George Pataki's failure to apply in a timely manner for federal funds designed to help make New York City more secure after Sept. 11. The governor has missed two deadlines and caused anxiety among city and state officials who are concerned that Washington may sense a lack of urgency, when there is much to be urgent about.
Mr. Pataki's spokeswoman has defended the delays, arguing that such complicated matters are "too important to rush." They are also too important to languish so far down on the governor's priority list. After all, a full 16 months has elapsed since the disastrous event that made them necessary in the first place.
The Federal Emergency Management Agency promised more than $400 million after the World Trade Center attack in order to harden the city's defenses against a future terrorist assault. Mr. Pataki's representatives have said that because this was not a normal disaster, the request for funding necessitated a different approach. That is true up to a point. But Mr. Pataki's offices have yet to submit a single project for FEMA to review under its "hazard mitigation" program, which is aimed at minimizing the damage from any similar disasters in the future. In the same period his administration has received dozens of proposals from state, city and private concerns asking for its help getting FEMA funds to harden infrastructure or strengthen bioterrorism defenses at hospitals.
Under the latest deadline, Mr. Pataki has until March 11 to come up with a priority list focusing on ways to enhance the city's security. His office has promised that the requests will be confined to needs in the New York City area. That is a wise move, given the widespread criticism of the governor's earlier pitch for federal funds that included upstate projects as well.
I bet Mitch Daniels is all broke up about that. See, the Bush administration doesn't want to pay that money, and Pataki really wants the Bush administration to love him. Wave the money byebye, New York.
Did I mention that sometime Republican Mayor Bloomberg of the approval ratings in freefall was one of the prime suckers? Congratulations, Mike. You've been had.
Sadly, you took us with you.
Gotta love the Saturday news.
Specifically, the governor singled out for praise a proposal to eliminate taxes on corporate dividends paid to taxpayers, the centerpiece of the plan President Bush announced on Jan. 7 for kick-starting the stalled economy.
"The president's new economic stimulus plan will help New Yorkers, specifically his proposal to eliminate the double taxation of dividends," Mr. Pataki said in his first public statements since the Bush announcement. "This element of his stimulus package will help a financial industry in New York that is hurting."
But Mr. Pataki was noticeably silent on the question of whether New York, whose income tax laws are tied to the federal laws, would enact changes to keep it from automatically following the federal government's lead.
Some state officials, mostly Democrats, have said that the Bush proposal will hurt New York at a time when it faces a cumulative deficit of $12 billion and needs every source of revenue it possesses.
Alan G. Hevesi, the state comptroller, said that if the state piggybacks on the federal plan and decides it will also stop collecting a dividend tax, it could lose $551 million in revenues in the fiscal year that begins April 1, and $2.5 billion over four years.
He is, they say, going to gut Medicaid for New Yorkers to balance the budget.
What a guy.
All you folks who thought this guy was a fair trade for what he promised you during the election?
Thanks a lot, suckers.
In other news, from the New York Times, which surely has not yet found reason to regret their endorsement of the "fiscally responsible" governor over his opponent, the state comptroller who fought off his repeated attempts to tank the budget:
It is well known that the clock ticks at a different speed in Albany, where New York State's business always takes longer than is necessary. That habitual torpor, however, does not excuse Gov. George Pataki's failure to apply in a timely manner for federal funds designed to help make New York City more secure after Sept. 11. The governor has missed two deadlines and caused anxiety among city and state officials who are concerned that Washington may sense a lack of urgency, when there is much to be urgent about.
Mr. Pataki's spokeswoman has defended the delays, arguing that such complicated matters are "too important to rush." They are also too important to languish so far down on the governor's priority list. After all, a full 16 months has elapsed since the disastrous event that made them necessary in the first place.
The Federal Emergency Management Agency promised more than $400 million after the World Trade Center attack in order to harden the city's defenses against a future terrorist assault. Mr. Pataki's representatives have said that because this was not a normal disaster, the request for funding necessitated a different approach. That is true up to a point. But Mr. Pataki's offices have yet to submit a single project for FEMA to review under its "hazard mitigation" program, which is aimed at minimizing the damage from any similar disasters in the future. In the same period his administration has received dozens of proposals from state, city and private concerns asking for its help getting FEMA funds to harden infrastructure or strengthen bioterrorism defenses at hospitals.
Under the latest deadline, Mr. Pataki has until March 11 to come up with a priority list focusing on ways to enhance the city's security. His office has promised that the requests will be confined to needs in the New York City area. That is a wise move, given the widespread criticism of the governor's earlier pitch for federal funds that included upstate projects as well.
I bet Mitch Daniels is all broke up about that. See, the Bush administration doesn't want to pay that money, and Pataki really wants the Bush administration to love him. Wave the money byebye, New York.
Did I mention that sometime Republican Mayor Bloomberg of the approval ratings in freefall was one of the prime suckers? Congratulations, Mike. You've been had.
Sadly, you took us with you.
Gotta love the Saturday news.
