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posticon State Tax Collections Decline $3.7 Billion

Business | Friday, April 26, 2019 | By New York State Comptroller’s Office Print
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Tax Receipts For State Fiscal Year 2018-19 Declined $3.7 Billion, Or 4.7 Percent, From The Previous Year To $75.6 Billion, According To The Year-End State Cash Report Released Today By State Comptroller Thomas P. Dinapoli. The State Ended Its Fiscal Year On March 31 With A General Fund Balance Of $7.2 Billion, Higher Than Recent Projections But A Decline Of $2.2 Billion From The Prior Fiscal Year.  For The Month Of March, Tax Receipts Were $811.7 Million Above The Latest Division Of The Budget (Dob) Projections, Released In February 2019.

"After Months Of Concern Over Lower-Than-Expected Tax Collections, The State Ended The Fiscal Year On A Positive Note," Dinapoli Said. "The Sharp Revenue Declines In December And January, However, Remind Us To Take Nothing For Granted. With Expectations Of A Slowing Economy And Ongoing Concerns Regarding Federal Fiscal Policies, A Strong Commitment To Building Robust Reserves In Preparation For The Next Economic Slump Is Essential."

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posticon 63 Percent Electric Vehicle Sales Increase In 2018

Business | Friday, April 26, 2019 | By New York State Governor’s Office Print
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Governor Andrew M. Cuomo announced Tuesday that New Yorkers are buying electric vehicles at a record pace, with sales increasing by 63 percent in 2018. The number of electric vehicles on the road jumped to 36,854 in 2018, up from 24,551 in 2017. A new report also released today provides a new cost-benefit analysis showing increased deployment of electric vehicles in New York State could provide up to $5.1 billion in societal benefits, including monetary savings for both electric vehicle drivers and utility customers. Increasing the use of electric vehicles supports Cuomo's Green New Deal, a nation-leading clean energy and jobs agenda that puts New York on a path to carbon neutrality and achieving the state's goal to reduce greenhouse gas emissions 40 percent by 2030.

"As we continue to expand our charging infrastructure across the state, we are making it easier and more affordable than ever to drive an electric vehicle in New York," Cuomo said. "The spike in sales of electric vehicles in 2018 underscores not only the benefits of these vehicles but also the positive impact our Charge NY initiatives are having on our ability to move to greener power."

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