The State Division of the Budget announced in late November that the state is projected to face a $6.1 billion shortfall in this year’s fiscal plan. The Assembly Majority is looking toward an increase in taxes to help bridge the gap.

“The reality is that New York doesn’t have a revenue problem, it has a spending problem - and while disappointing, it is not surprising that we are heading into another multi-billion dollar budget shortfall. Implementing “revenue raisers” or increasing taxes will only further encourage New York families and businesses to head to states with flourishing economies and a friendlier cost of living.

“The governor and majorities will be faced with very difficult decisions as they begin crafting the proposed 2020-2021 budget, and should keep this shortfall at the forefront in order to help get our state back on track. I look forward to seeing the proposals come January, and hope that instead of costly pet projects and politically-motivated initiatives we focus on our state’s fundamental needs and services, including public safety, infrastructure and education,” said Walsh.