Twenty our months ago, Andrew M. Cuomo was sworn in as the 56
Governor o New York.He came into oce at a critical period in the history o our state: substantial job losses and theexodus o businesses had severely weakened the state’s nancial condition and let many NewYorkers eeling hopeless about the uture. Years o political dysunction, ineective government,and a scandal-ridden environment had led many to lose their aith and trust in Albany.Governor Cuomo recognized that New York was at a crossroads: it could continue down a path o decline, or honestly ace its problems and tackle them head-on. He understood that to transorm thestate, it was imperative that we make the state government work again. And he recognized that all o it—scal sustainability, a unctioning economy and a responsible government—is the undamentalprecursor to making our state a more air and just place or everyone. In his rst month in oce,Governor Cuomo proposed a transormational plan or a new New York and began a 24-month journey to make it a reality. The path to change was not easy. Entrenched interests had resisted change or decades, but drawingstrength rom the people o New York, Governor Cuomo orged a path orward by engaging citizensin the process o governing every step o the way. Time and time again, he produced results on issues that had been intractable or decades. Hebalanced the State’s budget two years in a row and brought long-term stability to our statenances. He passed a property tax cap and public pension reorm to reduce the growing burdeno property taxes on our amilies and businesses. He led the ght or ethics reorm, providing ortrue transparency. He moved our state’s education system to ocus on student achievement andaccountability. And he helped restore our state’s reputation as the progressive capital o the nationwith the passage o the Marriage Equality Act and a progressive agenda aimed at making New York amore air and just place or all New Yorkers.
Restoring the State to Long-Term Fiscal Stability
The Governor began his transormation by restoring New York’s scal integrity. Within a month o taking oce, he delivered to the Legislature a historic budget that closed the State’s $10 billionbudget decit with no new taxes, ees, or gimmicks, and led the eort to achieve its timely passage,the rst on-time budget in years. The 2011-2012 budget undamentally changed the way the budgetprocess worked by eliminating certain automatic infators and pegging increases in education andMedicaid spending to rational and aordable measures o growth. These actions helped restore long-term structural balance.In 2012, the Governor continued this eort, enacting an early budget that closed a $2 billion decitand limited spending growth to 2% or less or the second year in a row. An important component incontaining costs was the Governor’s work to hold state agency spending fat by redesigning agencyoperations and eliminating waste. The Governor’s work to restructure state nances is paying o. Since Governor Cuomo took oce,out-year decits have been reduced by a cumulative $76 billion. Recently, Standard & Poor’s RatingsServices revised its outlook or New York State bonds to “positive” rom stable, citing many o theimportant scal reorms the Governor has implemented.