New York State’s Budget Gap May Grow to $1 Billion
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New York’s deficit for the current year, pegged by the Division of Budget at $315 million, may more than triple, Deputy Comptroller Tom Nitido said today.
This year’s projected gap will be followed by a $9 billion deficit in the year beginning April 1, according to budget documents. Next year’s imbalance may reach $9.3 billion if lawmakers don’t close the current deficit with spending cuts, according to Robert Megna, the state budget director.