P. 1
2011 Quick Start

2011 Quick Start

Ratings: (0)|Views: 1,651 |Likes:
Published by Casey Seiler

More info:

Published by: Casey Seiler on Nov 17, 2011
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

11/17/2011

pdf

text

original

 
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
 

You're Reading a Free Preview

Download
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->