Report: Trump tax cuts creates financial strain, inequities for New York

Report: Trump tax cuts creates financial strain, inequities for New York

ALBANY, N.Y. (NEXSTAR) — A report from the State Comptroller's office warns that a recent federal reconciliation bill has left New York with budget gaps totaling $34.3 billion. According to the report, "State Fiscal Year 2026 Enacted Budget and First Quarterly Financial Plans," the added costs from the federal cuts put the state in a similar financial situation to that of April 2009, the global financial crisis. Comptroller Thomas DiNapoli calle…