The New York state comptroller said the state’s revenues are plunging, along with the stock market, and that spells a difficult time ahead for the New York budget.
State Comptroller Tom DiNapoli was asked by Gov. Andrew Cuomo to recalculate the state’s finances, and he said the picture does not look good. He said the current $6 billion deficit will grow to $10 billion to $13 billion.
“This is an extraordinary time that we are going through, and it makes estimating the revenue impact of the pandemic very, very difficult,” DiNapoli said.