Last week Governor Andrew Cuomo and legislative leaders were celebrating some “found” money: $700 million in unexpected tax revenue. This week, the state’s financial future looks a lot less rosy. On Monday, the stock market lost seven percent of its value before trading was automatically halted.
Because the state’s revenues are so closely tied to Wall Street, Cuomo asked Comptroller Tom DiNapoli to review revenue projections for both 2020 and 2021.
In a wide-ranging conversation with Spectrum’s Susan Arbetter, DiNapoli discussed tax revenues, the state’s pension fund, and his upcoming audit of the Buffalo Billion.