Some details of NY Gov. Andrew Cuomo’s state budget proposal
ALBANY, N.Y. (AP) — Here’s a look at some of the details from the $168 billion state budget proposal released by Democratic Gov. Andrew Cuomo on Tuesday:
The spending plan is short on details, but Cuomo says he wants lawmakers to consider big changes to the state’s tax system to soften the blow of the recent federal tax overhaul, which will raise taxes on many New Yorkers. One idea would involve partially replacing the state income tax with a payroll tax. A report on the state’s options is expected to be released Wednesday.
NYC MASS TRANSIT:
Provide $254 million to fund state’s half of ongoing effort to fix subway and train service in New York City. Also, $175 million in capital funding for Metropolitan Transportation Authority.
The $26.3 billion proposed is a $769 million increase (3 percent). Includes $338 million increase in Foundation Aid, a supplement to local funding for school districts. Also, $10 million for after-school expansion, $15 million to expand pre-kindergarten and an additional $50 million to support transformation of high-needs schools in community hubs.
Another $750 million for the eighth round of Regional Economic Development Councils in charge of directing state funding for local projects. Also, $600 million for construction of a life sciences public health lab in the Albany area.
Establish a health care shortfall fund to ensure availability of services in the face of potential cuts in federal health care funding. Also, impose a health care insurance windfall profit fee, a 14-percent surcharge on health insurers who benefit from the federal corporate tax cut plan.
Impose a new 2-cent-per-milligram surcharge on opioid prescriptions to fund state efforts to prevent and combat opioid addiction.