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Frank J. Mauro

Executive Director, Fiscal Policy Institute

A Five-Year Plan to Eliminate New York's Structural Deficit?


April 19, 2010



Lieutenant Governor Richard Ravitch has outlined a five-year financial plan under which New York State would be required to achieve and maintain structural budgetary balance. Leaders in the state Senate and Assembly have offered their own proposals for budget reform. This Institute forum brought together leading members of the Senate and Assembly majorities, and independent fiscal experts, to comment on the plan. Mauro said he would like to see a pay-as-you-go provision added to the plan, requiring the state to finance expenditures with available funds, rather than borrowing. He strongly agreed with the idea of creating a large cash reserve for the state.

Video of Senator Liz Krueger
Video of Assemblyman Herman D. Farrell
Video of Q&A session following presentations by Krueger and Farrell

Video of Elizabeth Lynam, deputy research director of the Citizens Budget Commission
Video of E.J. McMahon, director of the Empire Center for New York State Policy
Video of Q&A session following presentations by Lynam, McMahon and Mauro