Sentences with phrase «revenue in the state budget»

Not exact matches

Legislators in a handful of oil - rich states are struggling to do the seemingly impossible as the 2016 fiscal year draws to a close this week: balancing their budgets, as required by law, despite massive declines in revenues due to falling oil prices.

FILE - In this Aug. 24, 2016, file photo, New Mexico Finance and Administration Secretary Duffy Rodriguez, from left, Taxation and Revenue Secretary Demesia Padilla and Legislative Finance Committee Director David Abbey give testimony to lawmakers about state budget shortfalls in Red River, N.M. New Mexico's grinding budget crisis is taking a visible toll in courtrooms where overburdened attorneys have denied legal counsel to poor defendants, at museums reeling from layoffs and admission hikes, and at state universities and colleges grappling with steep spending cutIn this Aug. 24, 2016, file photo, New Mexico Finance and Administration Secretary Duffy Rodriguez, from left, Taxation and Revenue Secretary Demesia Padilla and Legislative Finance Committee Director David Abbey give testimony to lawmakers about state budget shortfalls in Red River, N.M. New Mexico's grinding budget crisis is taking a visible toll in courtrooms where overburdened attorneys have denied legal counsel to poor defendants, at museums reeling from layoffs and admission hikes, and at state universities and colleges grappling with steep spending cutin Red River, N.M. New Mexico's grinding budget crisis is taking a visible toll in courtrooms where overburdened attorneys have denied legal counsel to poor defendants, at museums reeling from layoffs and admission hikes, and at state universities and colleges grappling with steep spending cutin courtrooms where overburdened attorneys have denied legal counsel to poor defendants, at museums reeling from layoffs and admission hikes, and at state universities and colleges grappling with steep spending cuts.

Eliminating the state and local tax deduction would raise about one - quarter of the $ 4 trillion in revenues that some Republicans say they need to prevent tax cuts from creating a massive increase in the federal budget deficit.

Last month, Governor Jack Dalrymple called for a decrease in the state budget, since tax revenues are down and the budget outlook for the state is different from two years ago, when the price of oil was topping $ 100 per barrel.

[105] On January 8, 2008, to address ongoing structural budget issues, Governor Corzine proposed a four - part proposal including an overall reduction in spending, a constitutional amendment to require more voter approval for state borrowing, an executive order prohibiting the use of one - time revenues to balance the budget and a controversial plan to raise some $ 38 billion by leasing the Garden State Parkway, the New Jersey Turnpike, and other toll roads for at least 75 years to a new public benefit corporation that could sell bonds secured by future tolls, which it would be allowed to raise by 50 % plus inflation every four years beginning in state borrowing, an executive order prohibiting the use of one - time revenues to balance the budget and a controversial plan to raise some $ 38 billion by leasing the Garden State Parkway, the New Jersey Turnpike, and other toll roads for at least 75 years to a new public benefit corporation that could sell bonds secured by future tolls, which it would be allowed to raise by 50 % plus inflation every four years beginning in State Parkway, the New Jersey Turnpike, and other toll roads for at least 75 years to a new public benefit corporation that could sell bonds secured by future tolls, which it would be allowed to raise by 50 % plus inflation every four years beginning in 2010.

«Mark - Up of H.R. 3996, The Temporary Tax Relief Act of 2007 and H.R. 3997, The Heroes Earnings Assistance and Relief Act of 2007,» Hearing Before the Committee on Ways and Means, United States House of Representatives, November 1, 2007; «Baucus, Grassley Tackle Alternative Minimum Tax Relief on First Day of 110th Congress,» Press Release, January 4, 2007; «Easing the Family Tax Burden,» Hearing Before the Committee on Finance, United States Senate, March 8, 2001; «Revenue Proposals and Tax Cuts in the President's Budget,» Hearing Before the Committee on Finance, United States Senate, February 28, 2001; «President's Tax Relief Proposals: Individual Income Tax Rates,» Hearing Before the Committee on Ways and Means, House of Representatives, February 13, 2001; Jerry Tempalski, «The Impact of the 2001 Tax Bill on the Individual AMT,» National Tax Association Proceedings: 94th Annual Conference on Taxation, November 10, 2001.

As part of its 2006 election platform, the Conservative Party promised to «create an Independent Budget Authority to provide objective analysis directly to Parliament about the state of the nation's finances and trends in the national economy; require government departments and agencies to provide timely information to the Parliamentary Budget Authority to ensure it has the information it needs to provide accurate analyses to Parliament; and ensure that government fiscal forecasts are updated quarterly and that they provide complete data for both revenue and spending forecasts».

Tax officials in a few states said they do not track individual tax payments, though state budget officials typically follow total quarterly tax payments by the rich to make sure revenue projections hold up.

And the June 2016 six - month stopgap budget provided for $ 8 billion more in spending than the state collects in tax revenues.

Then he has cancelled a host of domestic programs to balance the budget and compensate for revenue losses as a result of giving huge tax breaks to millionaires and billionaires in the state.

Overall, the park district «s budget is about $ 100,000 higher than last year, but Woods said recent state laws limiting the growth of property - tax revenues and the issuance of bonds without voter approval may put the district in a financial bind next year.

«We are pleased the state is in a stronger financial and budget condition, and certainly we will continue to have that view,» DiNapoli said, noting thanks to strong revenues and ongoing financial settlements, New York is on track to end the year with a surplus.

The proposed $ 152 billion budget proposal as unveiled by Cuomo did not include a contingency plan for repealing the measure, which is projected to result in a $ 3.7 billion gap in the state's revenues.

Following reports that the del Lago Casino & Resort in Seneca County is struggling with revenue and is seeking a bailout from the state, Sen. Joseph Griffo sent a letter to Cuomo and the state Budget director, indicating he doesn't believe a bailout is appropriate use of taxpayer money.

The comptroller's office also found NYPA, which takes in $ 2.8 billion in annual revenue, has given the state more than a billion dollars over the past decade to make up budget shortfalls.

This would reduce state revenues (i.e., cut taxes for eligible families) by $ 503 million starting in fiscal 2020, according to a memo submitted with Cuomo's budget.

The state budget's been in place for just less than two months, and already there are signs that tax revenues may be significantly lower than expected.

From increased education spending, to proposed new revenue generation ideas to whether legalizing marijuana is in the state's best interest, state lawmakers representing Western New York districts offered various opinions on the details of the budget proposal revealed Tuesday by Gov. Andrew Cuomo.

[1] Although this revenue is essential to keeping the State's budget in balance, the case for preferring the two major HCRA taxes over other broad based taxes has eroded over the last 20 years.

Noted that state revenues are set to drop in coming years — with budget gaps projected to climb to $ 3.6 billion by 2020.

New York State does not have a revenue problem, Adams said, pointing to data from the state's Division of the Budget showing that total state tax receipts are up $ 2.2 billion this fiscal year and will grow another $ 2.4 billion in 2008 - 09 without any change in our tax code or regulatory State does not have a revenue problem, Adams said, pointing to data from the state's Division of the Budget showing that total state tax receipts are up $ 2.2 billion this fiscal year and will grow another $ 2.4 billion in 2008 - 09 without any change in our tax code or regulatory state's Division of the Budget showing that total state tax receipts are up $ 2.2 billion this fiscal year and will grow another $ 2.4 billion in 2008 - 09 without any change in our tax code or regulatory state tax receipts are up $ 2.2 billion this fiscal year and will grow another $ 2.4 billion in 2008 - 09 without any change in our tax code or regulatory fees.

As illustrated in the Executive Budget financial plan, the state will be facing significant budget gaps in each of the next three years, and a new payroll tax on employers will be a tempting target for future administrations and Legislatures looking for increased revenues, but reluctant to impose new or higher taxes directly on indiviBudget financial plan, the state will be facing significant budget gaps in each of the next three years, and a new payroll tax on employers will be a tempting target for future administrations and Legislatures looking for increased revenues, but reluctant to impose new or higher taxes directly on indivibudget gaps in each of the next three years, and a new payroll tax on employers will be a tempting target for future administrations and Legislatures looking for increased revenues, but reluctant to impose new or higher taxes directly on individuals.

The measure itself means about $ 12 million revenue for the state, but the repeal of the sales tax was considered as part of the state budget approved in April.

The bill would also result in a loss of revenue unaccounted for in the state budget, Cuomo said in the memo.

«Or if after 90 days the legislature fails to adopt their own plan, the reductions to the general fund and state special revenue fund appropriations and related disbursements identified in the division of the budget plan will go into effect automatically.»

In states that have caucus systems, passing the hat at election year caucuses to attendees is often the primary source of revenue (as well as one of the biggest expenses in the local party budgetIn states that have caucus systems, passing the hat at election year caucuses to attendees is often the primary source of revenue (as well as one of the biggest expenses in the local party budgetin the local party budget).

Also Tuesday, the county's Office of Legislative Budget Review released a report stating that Curran's projected savings and revenue include $ 28 million in risk.

«We are extremely encouraged by the new revenue streams secured for the MTA in the state budget,» said MTA spokesman Jon Weinstein in a statement, «and we will continue to work with our partners in government at all levels to help fund public transit.»

After the revenue bill was approved by a 98 - 33 vote, the house turned to a state operations budget bill that passed in 13 minutes.

Cuomo already agreed to raise taxes on the wealthy back in December to close the rest of the gap, but he says «there are no new or increased fees or taxes» in the budget, no one shot revenue raisers, and in a state long known for complicated budget tricks, he says there are no «surprises» in his spending plan.

To a large extent, state fiscal policies have caused great pressure on property taxes in needy cities, counties and school districts, including decisions: to reduce revenue sharing; to decrease the share of local school budgets covered by state aid, to divide the non-federal share of Medicaid costs without considering ability to pay, and to allocate STAR benefits... (read more)

State Comptroller Thomas DiNapoli typically has been the only player in the budget process who filed his revenue estimate on time.

For a more comprehensive look at the state's revenue and budget challenges, see the Fiscal Policy Institute's 2018 - 2019 budget briefing book, which includes a discussion of many other progressive pro-revenue tax proposals which would generate billions of dollars that New York needs to remain competitive in the future.

The legislature's finance committee held a hearing on numerous tax proposals Tuesday including raising the sales tax in a quest to cobble together a budget and close a $ 1.7 billion deficit.The panel, which oversees the revenue side of the state budget,...

«NIFA has disallowed over $ 60 million in contingency revenue sources that we proposed and that municipalities around the state routinely use to balance their budgets, creating a budget crisis that does not exist in reality, but allows NIFA to unfairly continue its control of county finances,» she said.

He's already attempting to raise $ 1 billion in new revenues to help bridge a $ 4.4 billion budget deficit in negotiations with state legislators.

State officials have determined there is an extra $ 225 million in revenue for the 2016 - 17 state budget — giving lawmakers extra cash to haggle over with a month to go before the budget is due to State officials have determined there is an extra $ 225 million in revenue for the 2016 - 17 state budget — giving lawmakers extra cash to haggle over with a month to go before the budget is due to state budget — giving lawmakers extra cash to haggle over with a month to go before the budget is due to pass.

Revenue from the state's personal income tax «continued to be disappointing» in the first half of the state's fiscal year, the Division of Budget reported in its mid-year budget anaBudget reported in its mid-year budget anabudget analysis.

The Executive Budget is proposing a massive $ 651 million increase in the state's «Section 18 - A» assessments on utilities (increasing the assessment rate from.3 percent of revenues to 2 percent), a significant share of which will hit electric and gas utilities, with a direct pass through to their business customers.

The resolution, approved earlier this month after some back - and - forth haggling over pre-Kindergarten spending levels, the public financing of political campaigns and the Dream Act, doesn't go into detail as to what the sales tax exemptions and adjustments would cost in revenue to the state budget.

Gov. Andrew Cuomo this week continued his simmering disagreement with Senate Republicans over tax and fee increases in the budget, saying that without the revenue, the state would have to cut back on health care and school spending.

They hve continued the GEA in the Majority Conference budget well after NY State revenue recovered and the state's budge issues were State revenue recovered and the state's budge issues were state's budge issues were over.

The credit rating agency Moody's in a report released Thursday enumerated the challenges facing the state's budget, including faltering tax revenue, increasing costs for Medicaid and education, and the capping of state and local tax deductions by Congress.

His budget closed a projected $ 4.6 billion deficit with $ 1.8 billion of spending cuts, $ 1.5 billion in additional revenue from increased taxes and fees and $ 1.3 billion of one time transfers, and did not tap into the state's $ 1.2 billion of reserves or increase the top income tax rate on those earning $ 1 million or more.

The budget again authorizes the state's receipt of casino revenue payments from the Senecas and then the re-distribution of part of those funds to Niagara Falls, Buffalo, Salamanca and 17 counties in the region.

That revenue was included in the budget without any public assurances from Gov. Andrew Cuomo's administration or legislative leaders that it will be there once the state budget is finalized in March.

The budget, due April 1, has been approved in piecemeal, with the last portion — the state's revenue package — passing last week on Aug. 3 and closing a $ 9.2 billion deficit the state faced.

He said MMA would have a positive economic impact in the state — a study commissioned by the UFC predicted it would generate $ 137 million in economic activity around the state from training by 2019, and could bring in more than $ 5 million in tax revenue — and has always been talked about in the context of the state budget.

The situation has implications for the state's newly enacted budget and is leaving localities in Western New York, which have come to rely on a smooth flow of revenue - sharing payments from the tribe's casinos, in their own financial bind.

Though Governor Andrew Cuomo has expressed support for instituting a congestion pricing program to reduce street congestion in Manhattan and create a dedicated source of revenue for the Metropolitan Transportation Authority (MTA), and said that he is fighting for such a scheme in state budget negotiations, the governor has recently indicated that he may only be able to win a modest first step, raising the ire of those expecting more.