https://www.wsj.com/articles/new-yorks-incurable-spenders-11586717599?mod=opinion_lead_pos4
Gov. Andrew Cuomo says that Congress’s $2.2 trillion coronavirus bill short-changed New York, but then the $177 billion blowout budget he signed recently suggests that Albany doesn’t think it has to practice any spending discipline.
The state budget is $2 billion larger than last year’s despite what Mr. Cuomo says could be a $10 billion hit to revenues this year on top of a $6 billion deficit before the coronavirus. Legislators didn’t even attempt to triage spending or rationalize priorities.
The budget authorizes a $3 billion Restore Mother Nature Bond to “adapt to the intensifying impacts of climate change, and reduce emissions.” It also includes a 7.5% refundable tax credit for green jobs and a 5% investment tax credit for green projects. Expect every New York business to claim it’s “green.”
There are also hundreds of millions of dollars of more pork for upstate New York to make up for Mr. Cuomo’s ban on fracking, which the budget made permanent. The politicians made sure to help themselves too with $100 million in public campaign financing, including up to $375,000 for state Senate candidates and $175,000 for Assembly candidates.