Mo Money Mo Tax Cuts

Senate Republicans are predicting the state will have more money in the upcoming fiscal year than Gov. Andrew Cuomo predicts, and they don't want it used for additional spending.
They feel that the $438 million, of estimated additional revenue, (which is $23 million less when factoring in shortfalls from last year) should be used for tax relief or state reserves.
"While a forecast of additional revenue is good news, it should not be used for additional spending," said Majority Leader Dean Skelos, R-Rockville Centre. "I should be used to support the state's reserve fund or for items that provide state and local tax relief."
Senator John DeFrancisco, who chairs the Senate Finance Committee, said the next step is a joint public conference meeting in mid-March, which would be in keeping with the 2007 Budget Reform Act. "THis process bodes well for an orderly budget process and hopefully a timely budget," said DeFrancisco.
What doesn't bode well is that the Senate's released estimates differ from the Assembly's, which means they'll be heading to the bargaining table with different goals and different starting points. (We'll have more on the Assembly numbers later in the day).
The Senate's projections were compiled by IHS Global Insight, a nationally recognized group of fiscal consultants. In 2007 they coordinated with WalMart on their "Save Money Live Better" campaign.

Republican Composition of Finance Committee

Senate Majority Leader Dean Skelos, R-Rockville Centre, has appointed Senator John A. DeFrancisco, R-Syracuse, to serve as Chairman of the Senate Finance Committee.
DeFrancisco previously served as the Ranking Member of the committee, during which time he gained some notoriety for his floor battles with Chairman Carl Kruger over Democratic budget maneuvers.
“I am honored that I have been named Chairman of the Senate Finance Committee,” said DeFrancisco. “This is a very important position in the Senate and for our State, given the fiscal crisis our State is facing. I am anxious and excited to begin the hard work that is needed to remedy our State’s financial situation.
Skelos commended DeFrancisco's previous work on the committee, and classified him as a stalwart fighter for exposing the problems with the state budget (remembers those battles I mentioned?).
Skelos said, "I am very confident that he will do a tremendous job leading the Senate Finance Committee, working with our conference and all the members of the Senate, as well as the Assembly and Governor Cuomo, to meet the difficult budget challenges we are facing right now.”
Senator Owen Johnson,R-Babylon, will serve as Vice Chairman of the Finance Committee, which will also include Senators Jim Alesi (R-C Perinton), John Bonacic (R-C-
I, Mount Hope), Hugh Farley (R-C, Schenectady), John Flanagan (R-C-I, East Northport), Charles Fuschillo (R, Merrick), Martin Golden (R-C, Brooklyn), Kemp Hannon (R-C, Garden City), Bill Larkin (R-C, Cornwall-on-Hudson), Ken Lavalle (R-C-I, Port Jefferson), Betty Little (R-C-I, Queensbury), Carl Marcellino (R, Syosset), Mike Nozzolio (R-C, Fayette), Joe Robach (R-C-I, Rochester), Steve Saland (R-C, Poughkeepsie), Jim Seward (R-C-I, Oneonta) and Senator Cathy Young (R-I-C, Olean).