Proposed and Enacted State Funds Spending Increases Fiscal Years Ending March 31, 1996-2008

Source: Executive Budget, Division of the Budget. Enacted budget increase based on final close-out figures for all years except FY 2006-07, which is preliminary.

LATEST POSTING:

NEW: Market, Economic Turmoil May Finally Bust Up New York's Record Tax Boom

New York has experienced a record tax-revenue boom under Mayor Michael Bloomberg—but the salad days might be coming to an end. A financial-industry and real-estate slump could send the city's budget once again spiraling into significant deficit. This means, mathematically, spending cuts, tax increases, or both. Mayor Bloomberg's past actions during times of significant deficit indicate a real possibility of tax increases.

full text . . .

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