Assemblyman Ken Zebrowski
2009 Economic Update

Dear Neighbor:

It is no secret that we are all experiencing economic challenges. It is my desire to be upfront and clear about New York State’s finances.

This mailing provides you with a detailed overview of New York State’s current fiscal outlook and the legislative initiatives that have been implemented to tackle our financial troubles.

Ken Zebrowski


Reality Check

The Assembly remains committed to cutting expenses to tackle current deficits and to secure a stable financial future. Deep deficits and extreme economic times call for tough fiscal decisions to be made not obstructive rhetoric. The New York State budget is not a blank check; it is now a reality check!

Mid Year Cash Crunch

Preserving Necessary Funding

Saving for Our Future

The Legislature had to make difficult decisions to cut programs and initiatives, not only to close this year’s budget deficit, but to also shrink future budget deficits. Many of the budget cuts are recurring actions that place New York State in a more secure financial position for future generations.

“Albany’s fiscal problems cannot bechanged overnight but a trend of restrained spending can and will transform ourfinancial outlook for generations to come.”

-Assemblyman Ken Zebrowski

Here are some long term cost savings initiatives that have been implemented:

Tier 5

Public Authorities Reform

New York State’s Fiscal Challenges

The economic recession has continued to slow job creation, wage growth and consumer spending. This has resulted in a sharp decline in tax revenue and receipts that will create a cash flow crisis if appropriate action is not taken.

Here is the recession by the numbers:

New York’s 2009 tax collections have declined in eight of the nine previous months with April revenue declining 42.7%. This has left New York’s overall tax collections $5.1 billion below last year’s level.

These shrinking revenues are compounded with rising costs and unemployment. There are currently over 850,000 New Yorkers unemployed; double the amount in 2007. Within the last year New Yorkers have lost 250,000 jobs.

This crisis is not unique to New York and has created a mid-year fiscal emergency throughout the nation. Over 31 states are reporting projected budget gaps in the current fiscal year. The mid-year budget deficit in New York State currently totals $3.5 billion and has been growing over the past few months.

Assemblyman Kenneth Zebrowski
Kenneth P. Zebrowski

67 North Main Street, 2nd Floor
New City, NY 10956

Room 631 LOB
Albany, NY 12248