© 2022
1078x200-header-mic.png
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations

Cuomo Keeping Options Open On Use Of Surplus Windfall

cuomo.jpg
Times Union Website Crime Confidential Blog
/

For the first time in several years, New York has a surplus of $3-$4 billion. Governor Andrew Cuomo says he’s still looking at options on how best to use it.

The state has recently been the beneficiary of a windfall from major lawsuit settlements with several banks and insurance companies. After years of running a debt or breaking even, New York now has over $4 billion, says Governor Cuomo. Cuomo says he’s still thinking about the best use for the money.

“We have some building to do,” Cuomo said. “We could do more for infrastructure, we could do more to invest in education, and we could do more to cut taxes.”

Cuomo would not say whether some of the money might go towards the rebuilding of the Tappan Zee Bridge. His administration has not yet revealed a full financial plan for the multi billion dollar project.

New York may lose some of the surplus, though. The federal government is demanding that the state return $1.3 billion in Medicaid funds that it says was overspent. The governor’s budget office is appealing the decision, but says in its quarterly financial plan that there “can be no assurance that the State will be successful."

Karen DeWitt is Capitol Bureau chief for New York State Public Radio, a network of public radio stations in New York state. She has covered state government and politics for the network since 1990.
Related Content