Some state tax incentive programs could be in peril next year as lawmakers consider slimming down underperforming initiatives to prepare for a potential plunge in federal funding.
“We’re not exactly sure everything that could be happening, but we’re pretty sure it’s going to involve a lot less money coming to the state of New York,” said state Sen. Liz Krueger, a Democrat who chairs the chamber’s Finance Committee.
That role puts her in the position of helping lead annual negotiations on the state budget, which rang in at about $239 billion this year.
That number includes funding delivered from the federal government. If that amount drops, Krueger said, lawmakers and Gov. Kathy Hochul will be looking for ways to stretch every dollar in the state’s coffers.
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