After 125 days, New York has finally got its budget.
Last Tuesday, Albany lawmakers approved the last portion of the state's long overdue budget, which after a 2.4 percent increase in overall spending, comes to a projected total of $136.5 billion.
But still reeling from a $9.2 billion deficit and an inability to sell legislators on increased spending, the state was forced to make cuts in a number of areas, including school aid, where a 5 percent cut will be imposed.
Additionally, beginning in October, the sales tax exemption for clothing and shoes under $110 will be eliminated. And while the exemption will return in April 2012, only purchases under $55 will be excluded.
And so to many, the budget comes as doing too little too late.
"The fact that New York State lawmakers delivered a budget that was over four months late and did nothing to relieve the burden of high taxes on New Yorkers demonstrates how out of touch Albany is with working New Yorkers," said Stern junior and president of the NYU College Republicans Andrea Catsimatidis. "It is no wonder why residents are fleeing New York in droves."
The College Democrats could not be reached for comment.
And Senate Republican leader Dean Skelos issued a statement following the budget's passage blasting Democrats.
"At this critical time in New York's history, Democrats have failed New York," Skelos said in a statement following the passage.
But assistant professor of public financial management Shanna Rose said this kind of political infighting has been particularly detrimental.
"Another reason the budget is later than usual is the increasingly acrimonious and dysfunctional relationship between the governor and the legislature," she said. "The legislature has claimed the late budget is yet another example of the governor's ineptitude, while the governor claims he's been unwilling to settle for an 'irresponsible' budget."
Partisan fighting and concerns over deficit spending have heightened with the midterm elections fast approaching.
"It's an election year for everybody," Erik Kriss, spokesman for the New York State Division of the Budget, noted. "Politicians don't want to do stuff."
