BALANCING THE BUDGET
SENATE REPUBLICANS BALANCE THE BUDGET AND BRING SPENDING UNDER CONTROL
The message our new Republican Majority delivered throughout this year’s budget process was simple:
After years of high taxes and a Legislature that spent beyond its means, the new New York State Senate would reduce spending and eliminate the budget deficit without raising taxes on overburdened taxpayers.
For the first time in nearly three years, the details of this year’s budget were negotiated in public conference committees who conducted their business out in the open. After two years of closed doors and broken promises, the Republican approach was a breath of fresh air.
The new, open process led to passage of an early budget that was the first step in restoring the public’s trust in its government.
The highlights:
- Real spending cuts for the first time in nearly two decades
- No new taxes
- Sunset of the job-killing Personal Income Tax (PIT) surcharge
- Elimination of a $10 billion deficit without any new taxes or any new debt