Over the past year, financial firms have written off hundreds of billions of dollars in bad debt, which has resulted in a loss of confidence and a destabilization of the financial markets.
Absent Congressional action, significant revisions to federal tax and spending policies are scheduled to take effect in January 2013.
The Executive Budget for State Fiscal Year (SFY) 2013-14 was released by the Executive on January 22, 2013. On February 21, the Executive submitted final amendments to the proposed budget, to supplement the 21-day amendments previously released.
The fiscal relationship between the federal government and the states has been a topic of debate since the founding of our nation.
The President and leading members of Congress are pushing to enact major changes in our federal tax code. Before any such measures become law, we need to make sure that taxpayers and policy makers understand the implications for New Yorkers.
As the President and Congress push for changes on both the spending and revenue sides of the federal budget, the stakes for New York State are high.
It’s been said that the only certain things in life are death and taxes. But when leaders in Washington make sweeping promises about the benefits of “tax reform,” we can be certain of at least one other thing – the need to look very carefully at the numbers.
In 2009 and 2010, President Obama and Congress enacted two major laws—the American Recovery and Reinvestment Act, and the Affordable Care Act—that provided significant new funding to help New York and other states provide essential services to the people.
It’s easy to take clean, safe drinking water for granted. However, as incidents of contamination in our public water supplies in recent years have reminded us, strong regulatory oversight is essential to assure the quality and safety of our water.
The federal government has been operating under Continuing Resolutions since the start of the new federal fiscal year that began October 1, 2010. Despite ongoing efforts between the President and Congress to reach agreement on a federal budget, taxpayers face the threat of the first federal government shutdown since 1996.
