On Wednesday, Governor Cuomo delivered his State of the State address, and for the most part, Cuomo has done well. One of the things highlighted was the fact that taxes in New York are at their lowest point in ages, and in fact, gearing up for November, where the governor has a 2/3rds chance of getting reelected (more if Paladino and a Republican candidate split the conservative vote), the tax issue should help Cuomo. The problem though (and I'll get to others later) is that New Yorkers are not optimistic about the state's future. But alot of the state of the state looked good
- Cuomo wants to use any budget surpluses to further lower taxes. Tom DiNapoli, the state's comptroller (and thus, the state's treasurer), says that the likelihood of a budget surplus isn't as definite as Cuomo says it is. Regardless, talk of this is optimistic that New York finally might have a stable future. Investors aren't overly excited, but also relieved.
- Three on-time budgets, something that New York never sees. Can we make that four?
- Cuomo is changing his tune on government, including shared services as a way to cut costs as a (maybe) substitute towards lowering government costs, instead of merging governments.
- A program to help New York have more solar power is mentioned, with a plan to expand it. How about this? Make solar panel manufacturing nearly tax-free in New York, as to make it very competitive to manufacture them here.
- A continued focus on Upstate New York. Well Cuomo, you mostly blew it with the SAFE Act. And gun enthusiasts tend to vote as a bloc, so you've lost that vote. Your fallback could be Upstate's numerous cities: from Buffalo with it's almost 300,000 residents to as small as Ithaca to even as tiny as Batavia and Odgensburg. That could make up for the lack of gun vote. And if the upstate economy looks better than it did in 2010, you're looking good. New York is dependent on both parts of the state.
- The Governor is asking voters this November to approve a $2 billion
"smart schools" bond passage that would expand internet access. I
approve this as so many students across the state don't have access to
broadband internet at home, and if it saves the state money in the long-term, why not?
- Anti-corruption laws are a good idea. But it needs to become a reality.
There were several areas of the report that I had objections to:
- The tax cuts seem to be more favorable towards upper middle class New Yorkers. The New York Times shared the same sentiment.
- Barely any mention of upgrading New York's transportation network. The state has an opportunity to be a leader in sensible transportation. Cuomo's report offered scant mention of the topic.
- Paying down New York's debt. As much as we all enjoy tax cuts, the state and its agencies have over $50 billion in debt to pay down.
- A Route 11 bypass in the Potsdam-Canton area. According to the State of the State pamphlet:
The highest traffic in this corridor is in the Canton-Potsdam areas, where improved connections could bolster quality of life and result in economic benefits derived from increased tourism and easier access. The NYS DOT will work to immediately add the environmental study for bypasses for Canton and Potsdam and a connector for the two to the State Transportation Improvement Program (STIP). The results of the study will guide consideration of next steps.
On the other hand, a bypass could be rather tricky, even though it's mostly farmland. Granted, transportation improvements need to be made in the area.
- The "smart schools" referendum is a tough sell in these rough economic times, especially in this nasty economic environment.
- While we're on schools, the state's schools are in pitiful economic shape. If Cuomo's going to succeed in selling the package to voters, he needs to link it to reliving school districts in the state of some burden.
Overall, I give the Governor a "B". Even if Cuomo can achieve half of his goals, it looks good.
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