"The Governor put forth an Executive Budget proposal to tackle the serious, unprecedented issues facing New York state over the coming year, including multiple threats to the state’s financial picture. There is no doubt that New York state faces many challenges ahead. While personal income tax collections were strong in December, the future is clouded with uncertainty. The federal tax bill’s impact on New York’s budget is yet to be fully determined, but we know it will force tough decisions. The level of cuts in federal aid for health care and other programs remains in question. Out-year budget gaps and shrinking statutory debt capacity are also growing concerns.

"In the coming weeks, my office will thoroughly review the Executive Budget, examine both the near-term and long-term impact of these proposals and provide a detailed analysis."