DiNapoli Still Cautious Despite State's Strong Economic Growth

by Associated Press
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NYS Comptroller Tom DiNapoli
Azi Paybarah, flickr

New York State Comptroller Thomas DiNapoli says economic growth is strong, but he is still cautious.

New York state Comptroller Thomas DiNapoli says there's been strong economic improvement since April, but he's still urging caution over the state's "tenuous'' fiscal health.

State tax collections, an indication of economic strength, are $2 billion more than projected from April through June.

Personal income tax and business taxes increased beyond projections.

The April 1 budget addressed a $10 billion deficit carried over from the 2010-11 fiscal year.

But the Democrat says Wednesday the state needs to focus on job growth and rebuilding reserves because difficult days are still ahead.

Gov. Andrew Cuomo says his top priority is now "jobs, jobs, jobs.''

Cuomo said Tuesday that if the uncertain economy finally recovers, the state may be able to afford tax cuts beginning next year.

 

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