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.
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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