New York now has an extra $580 million. (Hint: It's your money)
And is Sean Duffy or U.S. Rep. Jerry Nadler right about subway crime? Here are the numbers.
Good afternoon — it’s Wednesday and Cherry Day.
In today’s CapCon:
New York’s monthly cash report has some good news for state budget officials scrambling to fill federal funding gaps.
U.S. Rep. Jerry Nadler and U.S. Transportation Secretary Sean Duffy accused each other of lying about subway crime. Who’s right?
Rep. Elise Stefanik is siding with Trump on dismantling the Department of Education.
On The Bill: There would be new rules for fake election websites if this bill is approved by Gov. Kathy Hochul.
Names in today’s CapCon: Tom DiNapoli, Sean Duffy, Jerry Nadler, Elise Stefanik, Donald J. Trump, Kristen Gonzalez, John McDonald, Peter Harckham, Chris Burdick, Siela Bynoe, Steven Stern, Amy Paulin, Pat Fahy
💰 DiNapoli says New York has collected more money than predicted
New York collected $3.3 billion more in taxes during the first quarter of this fiscal year, April through June, than the state did in 2024.
That’s according this month’s state cash report from state Comptroller Thomas P. DiNapoli’s office.
Most of that was expected but it includes money the state could use to address the steep federal funding cuts anticipated as a result of the “One Big Beautiful Bill” signed into law by President Donald J. Trump two weeks ago.
State Budget Director Blake Washington told reporters last week that New York would need an additional $750 million to plug the hole anticipated from those cuts in the first quarter of the next calendar year.
But DiNapoli gave the Division of Budget some good news Wednesday that could have staffers at the agency breathing a sigh of relief.
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