State Budget Division Releases Budget Update

November 19th, 2018

The state Division of Budget (DOB) released its mid-year budget update.  DOB projects a state budget deficit of $3.1 billion for the state’s upcoming fiscal year.  But if lawmakers stick to the planned 2 percent cap on state spending increases – as they have done in each year that Gov. Cuomo has been in office – then the state’s projected shortfall is $402 million.