FOR IMMEDIATE RELEASE

TODAY: January 23, 2008

Contact: Suzanne Redmond (315) 255-3045

Finch: Governor’s Executive Budget Fails to Solve Long Term Problems

            Assemblyman Gary D. Finch (R,C-Springport) today expressed concern following the unveiling of the executive budget and said that the time has come to make hard choices in light of an economic downturn.

            “In light of the economic downturn, it’s clear the state must make some difficult choices,” said Finch.  “Unfortunately, the governor’s spending increases cannot be sustained without placing additional hardships on the middle class and small businesses.  The budget deficit cannot be closed by imposing unwarranted fines, fees and higher gas taxes on hardworking taxpayers and small business owners throughout the state.  To jumpstart economic growth, we need to rein in excessive government spending and fundamentally reform our property tax system.  The executive budget simply does not go far enough and contains too many temporary fixes to long term problems.”         

The governor’s executive budget includes a 5.1% increase in state spending, almost twice the rate of inflation, despite the state currently facing a $4.4 billion budget deficit.  The proposals include nearly $2 billion in new taxes, fees and fines, which would cost the average family $473.  The governor’s proposal includes an increase in the gas tax, which would place additional strain on the middle class and Upstate businesses.  The budget also includes $1.1 billion in non-recurring revenue and a $350 million decrease in property tax rebates.