Wednesday, January 22, 2014
 

 

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Governor delivers 2014 budget proposal

ALBANY - Governor Andrew Cuomo today delivered his 2014 Executive Budget address on Tuesday, outlining a disciplined and innovative plan that allows for tax cuts that will create jobs, grow the economy and provide much-needed relief for struggling families.

“In the past, budgets in New York State have meant little more than out of control spending that catered to special interests and created a fiscally dilapidated and unhealthy New York. But over the last three years, with fiscal discipline and responsible policymaking, New York State has turned a $10 billion deficit into a $2 billion surplus and made the government work again,” said Governor Cuomo. “This year, our budget is more than numbers: it is an innovative action plan building on the progress of the last three years by restoring the public’s trust and making New York a state that is smarter, cleaner, healthier and reimagined for the future.”

New York has undergone a turnaround in the past three years. In 2011, the New York faced a $10 billion budget gap, symptomatic of decades during which the State spent beyond its means. Budgets were chronically late and politics dominated policymaking.

This year’s Executive Budget is balanced while limiting spending growth to no greater than two percent. The current year is expected to end in surplus and with Governor Cuomo’s steadfast commitment to fiscal responsibility, future surpluses are expected to grow.

The Executive Budget reduces spending in 2014-15 by nearly $2 billion compared to prior projections, continuing the Governor’s focus on spending constraint. These savings are recurring and expected to grow in value in the future years. The Budget also makes sizable new investments in education and health care, including $1.5 billion for a fully funded Universal Full-Day Pre-K program and $720 million for an after school program over five years, and a $2 billion Smart Schools bond act.

Cuomo outlined several initiatives as part of his budget address. For more information go to www.budget.ny.gov.