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State Comptroller Tom DiNapoli's Fiscal Cliff Report

State Comptroller Tom DiNapoli's Fiscal Cliff Report

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Published by robertharding22

DiNapoli's report on how the fiscal cliff would impact New York.

DiNapoli's report on how the fiscal cliff would impact New York.

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Categories:Types, Research
Published by: robertharding22 on Dec 06, 2012
Copyright:Attribution Non-commercial

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09/17/2013

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Nggoif ng r`f Yrcrf Ind|rxnaafx
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Chyfjr Injexfyyonjca cironj! yoejogoicjrxfwoyonjy rn gfbfxca rcp cjb y|fjboje |naoiofy cxfyi`fbvafb rn rcmf fggfir oj Kcjvcx 8<39* Dcjfinjndoyry ucxj r`cr r`oy indhojcronj ng `oe`fxrcpfy cjb cvrndcroi ivry gxnd hcyfaojf y|fjbojeafwfay
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uobfa mjnuj cy r`f ‑goyica iaogg— ’ 
 invab |vy` c yanua xfinwfxoje jcronjcafinjnd hcim ojrn xfifyyonj oj 8<39*I`cjefy oj gfbfxca rcp |xnwoyonjy unvab od|nyfc rnrca ng dnxf r`cj "29 hoaaonj oj rcp ojixfcyfynj Jfu _nxmfxy oj r`f indoje fcx! ciinxboje rnicaivacronjy h r`f Nggoif ng r`f YrcrfInd|rxnaafx* R`f acxefyr od|cir unvab indfgxnd r`f Carfxjcrowf Dojodvd Rcp CDR/*U`oaf gfufx r`cj 6<<!<<< Jfu _nxm rcp|cfxy`cwf hffj xfsvoxfb rn |c r`f CDR oj xfifjrfcxy! r`f jvdhfx ng cggfirfb Yrcrf xfyobfjryunvab oddfbocrfa kvd| h dnxf r`cj 9*2doaaonj* R`fyf Jfu _nxmfxy unvab gcif y`cx|rcp ojixfcyfy
 ’ 
cwfxceoje dnxf r`cj "6!30< |fxrcp|cfx
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oj r`f 8<38 gfbfxca ojindf rcp r`fdvyr |c oj gvaa afyy r`cj gowf dnjr`y gxnd jnunj C|xoa 36! 8<39*Nr`fx rcp i`cjefy yi`fbvafb rn rcmf fggfir!ojiavboje c 25 |fxifjr ojixfcyf oj r`f YniocaYfivxor |cxnaa rcp! unvab oddfbocrfa xfbvif|ci`fimy gnx Jfu _nxm Yrcrf xfyobfjry ng caaojindf afwfay* Cbboronjcaa! r`f gfbfxca i`oab rcpixfbor unvab hf xfbvifb h `cag! gxnd "3!<<< rn"6<<! cjb xfgvjbchoaor ng r`oy ixfbor unvab hfanyr gnx dcj anu$ojindf gcdoaofy* Rcmfjrnefr`fx! r`f |fjboje rcp ojixfcyfy unvab xfbvifboy|nychaf ojindfy cjb
bodojoy` Jfu _nxmfxy‟
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‑yfsvfyrxcronj—
ng gvjby oj c uobf wcxofr ng |xnexcdy cggfiroje yrcrf cjb anica enwfxjdfjry*R`f Jfu _nxm Yrcrf Bowoyonj ng r`f Hvbefr `cyfyrodcrfb r`cr og yfsvfyrxcronj enfy gnxucxbvji`cjefb! Jfu _nxm Yrcrf cjb ory anicaorofyinvab anyf c||xnpodcrfa "6*< hoaaonj oj gfbfxcacob nwfx jojf fcxy* Gfbfxca Gvjby Ojgnxdcronjgnx r`f Yrcrfy `cy obfjrogofb "7<? doaaonj oj cobxfbvironjy gnx Jfu _nxm Yrcrf r`cr unvab niivxoj r`f gfbfxca goyica fcx fjboje Yf|rfdhfx 9<!8<39* R`cr rnrca ojiavbfy cj fyrodcrfb "83<doaaonj oj fbvicronj |xnexcdy! "395 doaaonj oj`fcar` cjb `vdcj yfxwoify! "380 doaaonj gnx`nvyoje |xnexcdy oj r`f Fd|oxf Yrcrf! cjb "392doaaonj oj nr`fx xfbvironjy* R`f goyica iaogg caynojiavbfy cj fjb rn fprfjbfb vjfd|andfjrhfjfgory gnx cy dcj cy 3<<!<<< vjfd|anfbJfu _nxmfxy*Fci` ng r`fyf ivry gxnd yi`fbvafb gvjboje afwfayunvab xfbvif yv||nxr gnx |xnexcdy r`cr cxffyyfjroca rn gcdoaofy cjb ojbowobvcay cixnyy Jfu_nxm Yrcrf*
U`cr Oy r`f Goyica Iaogg>
Gnx yndf rodf! r`fxf `cy hffj uobfy|xfcbcexffdfjr cixnyy r`f |naoroica y|firxvd r`cr r`fVjorfb Yrcrfy jffby rn rcmf yfxonvy cironj rn xfojoj i`xnjoi hvbefr bfgoiory* R`fxf oy jnuinjyobfxchaf cexffdfjr r`cr yvi` cironj dvyrojwnawf hnr` ojixfcyfb xfwfjvfy cjb bfixfcyfby|fjboje* R`f n|rodca dop ng cbboronjcaxfwfjvfy cjb y|fjboje ivry! `nufwfx! xfdcojy
Od|cir ng r`f ‐Goyica Iaogg‟ nj Jfu _nxm Yrcrf
Y`cx| Rcp Ojixfcyfy! Xfbvironjy oj Gfbfxca CobUnvab @or r`f Fd|oxf Yrcrf Yrcxroje oj 8<39
R`ndcy \* BoJc|nao
Jfu _nxm Yrcrf Ind|rxnaafxBfifdhfx 8<38
 
 
 
Nggoif ng r`f Yrcrf Ind|rxnaafx 8
`nra bfhcrfb! canje uor` dcj xfacrfb
 |cxroivacxy* R`f dfrc|`nx ng r`f ‑goyica iaogg—
cxnyf rn fp|xfyy r`f obfc r`cr r`f wcxonvy crrfd|ryrn cbbxfyy r`oy i`caafjef yi`fbvafb rn rcmf fggfiroj 8<39 ivdvacrowfa ixfcrf c xoym ng yoejogoicjrbcdcef rn r`f finjnd* Rn vjbfxyrcjb r`fr`xfcr |nyfb h r`f goyica iaogg! uf jffb rnc||xfiocrf r`f indhojfb fggfiry ng jvdfxnvy|xn|nyfb rcp cjb y|fjboje i`cjefy*Acxef gfbfxca hvbefr bfgoiory nwfx r`f |cyrbficbf `cwf injwojifb dcj finjndoyry! |naoidcmfxy! cjb nr`fxy r`cr injrojvcronj ng anjeyrcjboje goyica |naoiofy oj Ucy`ojernj dc`cxd r`f jcronjca finjnd oj r`f anje rfxd*Fjcirdfjr ng r`f Hvbefr Injrxna Cir ng 8<33HIC/! xfsvoxoje cvrndcroi y|fjboje xfbvironjyyrcxroje oj 8<39 og jn carfxjcrowf bfgoior xfbvironjcironjy ufxf rcmfj! ucy njf nvrexnur` ng yvi`injifxjy*Vjbfx r`f HIC!
cvrndcroi ivry (‑yfsvfyrxcronj—/
unvab hfeoj oj Kcjvcx 8<39 cjb injrojvfr`xnve` 8<83! rxcjyacroje ojrn xfbvironjy ojbfgfjyf y|fjboje! dcjbcrnx |xnexcdy! cjb jnj$bfgfjyf boyixfronjcx |xnexcdy*Car`nve` jnr |cxr ng r`f HIC ng 8<33! dcj ng r`f Hvy`$fxc rcp ivry ojorocaa fjcirfb oj 8<<3cjb 8<<9! cy ufaa cy r`f dnxf xfifjra fjcirfb|cxnaa rcp ivry cjb |xnwoyonjy rn fprfjbvjfd|andfjr hfjfgory! fp|oxf cy ng Bfifdhfx93! 8<38* Gvxr`fxdnxf! jfu rcpfy fjcirfb cy|cxr ng r`f \crofjr \xnrfironj cjb CggnxbchafIcxf Cir cxf yi`fbvafb rn en ojrn fggfir cr r`fhfeojjoje ng 8<39*Oj cbboronj! r`f Rxfcyvx Bf|cxrdfjr `cyojboicrfb r`cr r`f Vjorfb Yrcrfy oy cecoj jfcxojer`f bfhr ifoaoje od|nyfb h ivxxfjr acu! cjb uoaaxfci` r`f aodor oj r`f indoje dnjr`y*R`f Injexfyyonjca Hvbefr Nggoif fyrodcrfy r`crr`f goyica iaogg ojwnawfy "956 hoaaonj ng rcpojixfcyfy cjb "00 hoaaonj ng y|fjboje xfbvironjyr`cr uoaa rcmf fggfir oj 8<39 og Injexfyy rcmfy jncironj rn i`cjef ivxxfjr acu* R`nyf rcp ojixfcyfyxfgafir r`f fp|oxcronj ng rfd|nxcx OjrfxjcaXfwfjvf Inbf i`cjefy fjcirfb cr wcxonvy rodfygxnd 8<<3 r`xnve` 8<33* R`f y|fjbojexfbvironjy cxf bxowfj h yfsvfyrxcronj ng gfbfxcafp|fjborvxfy vjbfx r`f HIC! cjb fp|oxcronj ng fprfjbfb vjfd|andfjr ind|fjycronj hfjfgoryr`cr Injexfyy dnyr xfifjra c||xnwfb ojGfhxvcx 8<38*R`f goevxfy iorfb fpiavbf run |xnwoyonjy
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r`cr yndfcjcayry ojiavbf oj bfyixo|ronjy ng r`f goyica iaogg*Hnr` |xnwoyonjy cxf ojrfjbfb rn `fa| |c gnxfp|cjbfb `fcar` ojyvxcjif inwfxcef vjbfx r`f\crofjr \xnrfironj cjb Cggnxbchaf Icxf Cir cjbjnr cy |cxr ng r`f cxxc ng bfgoior$rxoddojedfcyvxfy cjca{fb oj r`oy xf|nxr*
Od|cir ng Rcp I`cjefy nj Jfu _nxm
U`oaf r`f goyica iaogg‟y rcp i`cjefy u
oaa cggfirgcdoaofy! ojbowobvcay cjb hvyojfyyfy cixnyy r`finvjrx! yfwfxca dcknx fafdfjry unvab `or Jfu_nxmfxy fy|fiocaa `cxb*Rchaf 3 y`nuy r`f fyrodcrfb od|cir r`cr rcpi`cjefy cyyniocrfb uor` r`f goyica iaogg uoaa `cwf
nj Jfu _nxm‟y rcp|cfx 
y! h dcknx rcp icrfenx!oj Gfbfxca Goyica _fcxy 8<39 cjb 8<32*
Rchaf 3; Goyica Iaogg Od|cir
nj Jfu _nxm‟y Rcp|cfxy
 
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Ynvxif; Nggoif ng r`f Yrcrf Ind|rxnaafx
 
Rcp I`cjefJfu _nxmInyr $ 8<39
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Jfu _nxmInyr $ 8<32
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Carfxjcrowf Dojodvd Rcp"8<!0<<"32!8<<Ynioca Yfivxor|cxnaa rcp"5!7<<"5!5<<Rn| dcxeojca xcrfy"8!?<<"2!9<<Ic|orca ecojy.bowobfjby "8!2<<"9<<Faodojcronj ng 3<& xcrf"8!9<<"9!9<<I`oab rcp ixfbory"8<<"8!5<<Fyrcrf.eogr rcp"9<<"8!3<<Fcxjfb ojindf rcp ixfbor"<"2<<Nr`fx"7!?<<"?!?<<
Rnrca Jfu _nxm od|cir"29!2<<"22!?<<
 
 
Nggoif ng r`f Yrcrf Ind|rxnaafx 9
Goevxf 3; Carfxjcrowf Dojodvd Rcp \cfxy ojJfu _nxm! Hfgnxf cjb Cgrfx Goyica Iaogg 
Ynvxif; Injexfyyonjca Xfyfcxi` Yfxwoif
 Carfxjcrowf Dojodvd Rcp
Rcp|cfxy u`nyf ojindfy cxf chnwf r`f CDRfpfd|ronj afwfa
 ’ 
"52!26< gnx inv|afy cjb"20!26< gnx nr`fxy oj 8<33
 ’ 
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3
 Oj 8<3<! r`f acrfyr fcx gnx u`oi` bcrc cxfcwcoachaf! 6*9 |fxifjr ng Jfu _nxm rcp|cfxyufxf yvhkfir rn r`f CDR
 ’ 
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3
 
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 ’ 
dnxf r`cj `cag ng caa gfbfxca ojindfrcp|cfxy oj r`f Yrcrf
 ’ 
gnx 8<38 xfrvxjy bvf ojC|xoa 8<39*
8
R`f Nggoif ng r`f Yrcrf Ind|rxnaafxfyrodcrfy r`f nwfxcaa od|cir nj Jfu _nxmfxy cr"8<*0 hoaaonj oj r`f indoje fcx! cj cwfxcef ng dnxf r`cj "6!30< |fx rcp goafx*
9
 
Ynioca Yfivxor |cxnaa rcp
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Goevxf 8; Goyica Iaogg Od|cirnj Ynioca Yfivxor \cxnaa Rcp
8
 
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Yfxwoif! Bfifdhfx 36! 8<33*
9
Dcj ng r`f rcp xfrvxjy yvhkfir rn r`f CDR cxf gxnd dcxxofbinv|afy goaoje knojra! yn r`f jvdhfx ng cggfirfb ojbowobvcay oyyoejogoicjra `oe`fx r`cj r`f jvdhfx ng rcp xfrvxjy*
 
$3!<<<!<<<8!<<<!<<<9!<<<!<<<2!<<<!<<<6!<<<!<<<
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$3!<<<8!<<<9!<<<2!<<<6!<<<7!<<<5!<<<
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