Gov. Andrew Cuomo during his 2014 State of the State address, Jan. 8, 2014 in Albany. (Photo from the governor’s press office)
ALBANY — Governor Andrew Cuomo will be presenting his budget for the upcoming fiscal year during an address this afternoon in Albany. The big question on everyone’s mind will be how does he plan to reign in spending while also providing additional funding for education and other economic development projects. Officials are also wondering how he plans to not only close $1.7 billion deficit, but also actually create $500 million surplus.
Cuomo’s plan is already drawing skeptics who question how he will eliminate projected budget gaps and create a surplus at a time when state revenue remains unsteady. But he has vowed to stick with a 2 percent spending cap he imposed when he took office in 2011. And it has apparently worked, with his fiscal moves eliminating years of budget gaps, including a $10 billion deficit in 2011.
The Democratic governor is seeking re-election this fall, and he said his math would add up. Regardless, the Legislature will have to sign off on the final budget plan before it goes into effect on April 1, 2014.
Gov. Andrew Cuomo will unveil the 2014-15 state budget at 2 p.m. near the state Capitol. To watch, visit: http://www.governor.ny.gov.
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