WATERTOWN, N.Y. (WWNY) - New York Lieutenant Governor Kathy Hochul spoke with 7 News anchor Jeff Cole Wednesday about the state’s $10 billion deficit and whether that will come back on the taxpayer.
The state budget deadline was due Wednesday.
When asked about the budget, Hochul said, "It's astounding to see the loss of revenues in the last month in New York - revenues we rely on to provide servcies. So it's tough. The governor is committed to get this done on time and is working with the leaders of the Senate and Assembly, but I think what needs to happen is let the governor have the power to reopen the budget over the course of the year, instead of in a year from now, depending on our sitiuation - will more cuts be needed or will a recovery start sooner than expected? These are unprecedented to deal with a budget like this, but I think people will understand why we have to take these actions when our state government will have $10-15 billion less in revenue. That's the reality. The governor is not sugar coating it."
When people hear about the revenue loss, they're going to think their taxes will go up.
Hochul addressed that by saying, “No one has heard those words pass through the lips of our governor. We have fought hard to reduce taxes on every income bracket. Every New Yorker pays less in taxes than any other time in their life because we’ve cut taxes so dramatically. We want to make sure we are not a tax and spend state. So the governor is not talking about raising income taxes on people. He doesn’t think that’s the right way to go at this time. We have to reserve the right to consider anything, but that in his mind is not on the table.”
Hochul said she believes after the pandemic is over and people want to get out of the house, they might not want to go too far and it’ll be a chance for the state to promote the north country in its ‘I Love New York’ tourism ads.