ALBANY, N.Y. (NEWS10) – Despite recent allegations against Governor Cuomo, the state budget is still due by April 1st. And, lawmakers are at work. The Senate and Assembly have put out their one-house budget proposals.
“What we’re seeing from the legislative one-house proposals is that the Senate and the Assembly are much closer to one another than they are to what the Governor proposed for the budget in January,” said CBCNY Senior Research Associate Patrick Orecki.
Orecki says clear similarities are shown in the revenue raiser plans. “Both the Senate and the Assembly proposed a personal income tax increase, especially on high income earners, they included some increases in estate taxes, in corporate taxes, and a surcharge on capital gains income,” he said.
During a public appearance today, Governor Cuomo spoke to some of those proposed increases. “How you raise revenue can actually raise revenue or can cost you revenue. If you’re not careful the way you do it, you may actually lose money for the state because businesses and residences will make changes,” the Governor said.
Another difference between what that Governor has proposed and what the legislature has proposed has to do with the legalization of mobile sports betting. While the Governor proposed having the program operated like the state lottery, the legislature’s plan is more beneficial to casinos. Republican Senator Mike Martucci says he’s fully supportive of the Senate’s version. “The Governor’s plan really asks us to give the Governor full control over running that program, and we’ve seen as of late what the Governor does with his power and the danger of giving the Governor full control,” Martucci said.
An issue notably absent from the legislature’s budget proposals is recreational marijuana legalization, which is currently being worked on outside of the budget.