NY Budget Blues

In an effort to close a budget gap estimated at more than $16 billion, negotiations conducted by Gov. David Paterson, Assembly Speaker Sheldon Silver and Senate Majority Leader Malcom Smith culminated Sunday in a $131.8 billion package that’s raising eye brows across the state for spending amid huge deficits.

And yes before you asked we are back to the proverbial “three men in a room” scenario.

Absent form this bloated piece of work is any kind of real reform. Its safe to say that reforms have been…. Ummm well er... reformed.

For instance, Paterson’s plan to remove companies from the states Empire Zone program that don’t generate at least $20 of wages, benefits and capital investments for every $1 they receive from the state has been significantly scaled back from what was originally proposed. Now Instead, firms producing less than $1 of wages, benefits and capital investments will be evicted from the program.

Why reform when you can just shuffle seats on the titanic?

The most far reaching aspects at least IMHO includes the elimination of the middle class “STAR” property tax rebate that will effect home owners across the state.

Utilities fare even worse as the budget calls for adding more than $600 million in higher taxes on electric, gas, water and telephone companies. You can expect that cost to be passed on in the form of higher bills.

Health maintenance organizations will see there tax rates raised as well. Beverage companies will now be forced to return 80 percent of unclaimed bottle deposits to the state. Once again, you can expect the additional cost to be passed on to the consumer.

Someone asked me why I don’t update this everyday like other bloggers. The short answer is time, but in all honesty I just don’t wake up pissed off at the government everyday. Stuff like this though could change that, lol.

I hope all you guys just don’t take this on the chin. Write your state law makers and tell them your tired of business as usual.

Get the word out folks.

More for us means less for you.

Business first is reporting that Tyson is shifting work to Buffalo following the closing of its processed meats plant in Ponca City, Okla.