By Mark Scott
Albany, NY – There's some potential good news for the cash-strapped state of New York. State Comptroller Thomas DiNapoli says Wall Street bonuses increased 17 percent last year to more than $20 billion.
DiNapoli admits the Wall Street bonuses are a "bitter pill" to taxpayers nationwide who were forced to bail out the financial industry. But he says the taxes on the bonuses will provide a boost to state revenues.
Both houses of the State Legislature are expressing reservations about revenues for the coming year. The Democrat-led Assembly projects the state will have more than $1 billion less to spend than Governor David Paterson forecasts. And Senate Democrats see New York's economy as even weaker than Paterson does.
Public and private budget talks among state leaders are expected soon. The budget deadline is April 1st.
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