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New York State Division of Budget predicting big revenue decline

New York State Division of Budget predicting big revenue decline

WNYT Staff
Created: October 30, 2020 05:15 PM

The New York State Division of Budget released its mid-year update on Friday.

It is projecting a $15 billion decline in revenues this year, and a total loss of $63 billion over the next four years.

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The state says it reduced spending by $4 billion in the past six months compared with the same period last year. That was done with a hiring freeze, postponing pay raises, and withholding 20% of local aid payments.


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