Every year, after the state budget is passed, the Office of the New York State Comptroller issues a report on the spending plan.

This year, the report is especially important considering the enormous concern in New York about possible federal budget cuts and new tariff policies. 

According to the report, federal funding represents more than one in three dollars in the state’s budget. To date, according to the governor’s office, nearly $1.3 billion in cuts have already been made to state programs.

Another issue? While Republicans in Congress are working to raise the SALT cap to $40,000, according to the report, the House bill eliminates the SALT deduction for pass-through businesses.

State Comptroller Tom DiNapoli shared his perspective on the state budget and possible future cuts with Capital Tonight.