N.Y. Deficit: Silver Says No Tobacco

McKaig, Ryan
March 2003
Bond Buyer;3/19/2003, Vol. 343 Issue 31596, p1
Trade Publication
U.S. Assembly Speaker Sheldon Silver and two other Democrats on March 17 have introduced a bill that would allow the state to borrow up to 3.5 billion dollars to help close a two-year budget deficit by fiscal 2004 that is expected to total 11.5 billion dollars. The measure, which calls for selling deficit bonds backed by the state's personal income tax receipts, was crafted as an alternative to Republican Gov.If adopted, the measure would build on a program the state adopted last year to replace its traditional appropriation-backed bonds with bonds backed by 25% of personal income tax receipts.Rating analysts have said that whatever type of deficit borrowing state leaders ultimately decide on will reveal a structural weakness in the state's finances, which could possibly lead to a downgrade of its credit, which is rated A2 by Moody's Investors Services Corp. and AA by Fitch Ratings Inc. and Standard & Poor's Corp.


Related Articles

  • Matching fund mismatches.  // Crain's New York Business;8/11/2003, Vol. 19 Issue 32, p30 

    Presents news items related to New York region, as of August 11, 2003. Amount received by various city council members of the region, as part of distribution of public matching funds by the City Campaign Finance Board; Rise in consumer confidence index of U.S. Republicans in the region;...

  • Business groups applaud tax cap plan. Jordan, John // Westchester County Business Journal;5/30/2011, Vol. 47 Issue 22, p2 

    The article reports on the positive response of business groups to the proposed 2% property tax cap bill by Assembly Speaker Sheldon Silver in New York. Dean Skelos, Senate Majority Leader, states that the enactment of the property tax cap is vital for the families in the state who are...

  • DEFEATED. Barker, Cyril Josh // New York Amsterdam News;4/10/2008, Vol. 99 Issue 16, p1 

    The article reports that there is no support given to the congestion pricing bill of Mayor Michael Bloomberg in Albany, New York. Assembly Speaker Sheldon Silver said that no support was given by the assembly majority conference to the bill due to its expected impact on low income households....

  • Referendum Could Lead to First Alaskan GO Debt in Decades. Finestone, Deborah // Bond Buyer;7/9/2002, Vol. 341 Issue 31423, p3 

    Reports the approval of bond bills by governor Tony Knowles in Alaska. Allocation of budget for transportation and education; Commitment of the state to construction and repairs; Increase of taxation rate.

  • Pol cools his Jets on stadium. Dempsey, John // Daily Variety;6/7/2005, Vol. 287 Issue 47, p1 

    Reports on the rejection of the proposed stadium for the New York Jets football team and the fading hope of New York City that it will get the approval as host city for the 2012 Olympics. Amount spent by Cablevision chairman Chuck Dolan on an advertising campaign for the arena; Veto exercised by...

  • N.Y. Budget Talks Resume After Layoff. McDonald, Michael // Bond Buyer;6/16/2004, Vol. 348 Issue 31906, p36 

    Reports that New York Governor George Pataki met with state legislative leaders Joseph Bruno and Sheldon Silver to negotiate the state budget for fiscal 2005 which began April 1, 2004. Failure to come to a consensus on an increased school funding plan that includes a one-year bonding component;...

  • Budget? What budget?  // Westchester County Business Journal;3/31/2008, Vol. 47 Issue 13, p4 

    The article reports on several controversial issues involving public budgets in New York. It includes the millionaire tax by the Assembly Speaker Sheldon Silver, which found that 72% of voters, including 60% of Republicants have supported the plan to raise the personal income tax on...

  • Silver interim speaker.  // Crain's New York Business;1/31/94, Vol. 10 Issue 5, p38 

    Reports on the selection of Sheldon Silver to serve as interim speaker after Saul Weprin suffered a stroke.

  • Snipe of the week.  // New York;6/5/95, Vol. 28 Issue 23, p15 

    Reiterates a comment by Sheldon Silver, Democratic speaker of the New York State Assembly, regarding Republicans and fundraising events.

  • Silver holds hearings on budget vetoes.  // Hudson Valley Business Journal;05/25/98, Vol. 9 Issue 2, p30 

    Reports that state Assembly Speaker Sheldon Silver has announced a series of public hearings on the spending cuts. Focus of the hearings; Worth of the school construction program pushed by Silver.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics