N
EW
Y
ORK
S
TATE
A
SSEMBLY
M
IDYEAR
U
PDATE
Sheldon
Silver
Herman
D.
Farrell,
Jr.
Speaker
Chairman
New
York
State
Assembly
Ways
and
Means
Committee
Staff
November
2011
Table of ContentsE
XECUTIVE
S
UMMARY
.............................................................................................................
I
United States Economy....................................................................................................i
New York State Economy...............................................................................................iv
Revenue..........................................................................................................................v
E
CONOMIC
O
UTLOOK
...........................................................................................................1
United States Forecast.....................................................................................................2
Outlook for Components of GDP................................................................................6
Prices..........................................................................................................................8
Employment................................................................................................................9
Stock Market.............................................................................................................11
New York State Forecast...............................................................................................12
Risks to the Economic Outlook.....................................................................................15
R
EVENUE
U
PDATE
...............................................................................................................17
State Fiscal Year 2011-12 Tax Revenue Estimates..........................................................17
Tax Analysis..................................................................................................................19
General Fund Receipts Estimate 2011-12......................................................................24
SFY 2012-13 Forecast...................................................................................................25
General Fund Receipts Forecast 2012-13......................................................................27
Risks to the Revenue Forecast.......................................................................................28
E
XPENDITURE
F
ORECAST AND
R
ISKS
.......................................................................................31
Medicaid Expenditure Forecast.....................................................................................32
Medicaid Spending: SFY 2010-11, 2011-12, 2012-13...............................................33
Enhanced Federal Support.........................................................................................34
Medicaid Global Cap................................................................................................35
Medicaid Redesign Team..........................................................................................35
Risks to the Medicaid Spending Forecast...................................................................36
Public Assistance Caseload and Expenditures...............................................................36
SFY 2010-11 Closeout...............................................................................................37
SFY 2011-12 Forecast................................................................................................37
SFY 2012-13 Forecast................................................................................................38
Risks to the Public Assistance Forecast......................................................................38
Education Expenditure Forecast....................................................................................38
School Year 2011-12.................................................................................................38
Budgeted Out-Year Growth and a Real Property Tax Cap..........................................39
Search History:
Result 00 of 00
00 results for result for
p.
More From This User
Notes
Load more
