Simpson Sounds Alarm on Budget Bloat and Lack of Transparency

State-related debt to grow $8.5 billion or 15.1% in coming year

Today, the Assembly took up the first of ten budget bills, the debt service bill, which is necessary to make legally required payments related to the sale and servicing of debt. Assemblyman Matt Simpson (R,C-Horicon) expressed grave concern over New York's swelling budget, highlighting its detrimental effects on taxpayers and fueling the state’s population exodus. Simpson is critical of the lack of transparency and exclusionary practices in budget negotiations.

“I am disappointed by the one-sided budgetary process that has excluded the Assembly Minority Conference from crucial negotiations. It is imperative all New Yorkers’ interests are represented, and yet our Conference has been sidelined,” said Simpson.

Simpson emphasized the alarming debt figures, with the state's debt projected to soar to $64.4 billion, pointing out New York currently ranks as the second most indebted state behind California, with debt service projected to consume a substantial portion of the state's operating funds in the coming years.

“New York's bloated budget not only burdens taxpayers but is also driving residents away. It simply is not sustainable and the lack of transparency from the Majority only undermines democratic governance, leaving the public voiceless in critical fiscal discussions,” Simpson concluded.