Issues: Surplus

NYS Banking Settlement Windfall Belongs to Taxpayers

It’s not a bad problem to have.  What to do with more than $3 billion?  That’s the question facing the State of New York after a settlement with BNP Paribas, a French bank charged with violating U.S. money laundering laws. Similar settlements with other banks could drive the total windfall to about $4 billion.  As you can imagine, there is no shortage of ideas for what to do with this money.  I believe the answer is simple; return the money to the people of New York by relieving the tax burden on residents and lowering the cost of government.

September 30, 2014
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Senator Ted O'Brien's statement on the Bank of America settlement

ROCHESTER, N.Y. – Senator Ted O’Brien released the following statement on the Bank of America settlement that will bring $300 million to New York State:

“The $300 million New York will receive from the Bank of America settlement should go towards upstate property tax relief by reducing the cost burden on local school districts which have been devastated by the Gap Elimination Adjustment. We cannot afford to continue balancing school district budgets on the backs of local property tax payers, and must take action immediately to give hardworking families and small businesses the property tax relief they need.”

-30- 

August 22, 2014
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Legislative Notebook: State Initiatives of Interest to Veterans

Here is a partial listing of bills I have supported this session to aid New York’s former servicemen and servicewomen. These initiatives will now go to Governor Cuomo for final action.

-- Legislation I co-sponsored was passed by both houses (S.7839, first introduced as S.4714)) to extend the Military Service Credit Law of 2000 to all veterans who have served in the military. Right now, public employees who served in the armed forces may purchase up to three years of pension credit only if their military service occurred during specified conflicts. This measure will expand this opportunity to public employee veterans who also served their country in peacetime.

June 26, 2014
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Senator Griffo's Weekly Column #1: The Right Route For Government

Happy New Year!

My wife and I did some traveling for the holidays. Our destination was the same as the year before – and many years before that. One thing had changed, however. We didn’t agree on how to get there.

Governing is a lot like a road trip. All participants share a common destination, but the disagreements are always about what exact route to take.

State legislators and the governor, regardless of political affiliation, all want to help New York attract good-paying jobs and grow our economy. We also want to invest in our children and keep spending in check while maintaining services.

This week, Governor Cuomo will unveil his roadmap in a State of the State address. As always, I’m looking forward to hearing his plan.

January 2, 2014
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Regarding the New York State Tax Relief Commission Report

“I’m committed to making New York a more attractive place to live and work, so I welcome the Commission’s ideas on how best to accomplish that through tax relief.
“I, along with my colleagues in the Senate Republican Conference, have long advocated for a reduction in property taxes for individuals as well as a lowering of taxes on business. It’s encouraging to see this group echo that philosophy.”
“While I appreciate the Commission’s recommendations, I believe we can – and we should – go further.

December 17, 2013
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GALLIVAN APPLAUDS SENATE’S 2013-14 BUDGET RESOLUTION

BUDGET PLAN WOULD CHANGE THE STATE’S FILM PRODUCTION TAX CREDIT TO LEVEL PLAYING FIELD FOR WNY

The New York State Senate today approved a 2013-14 budget resolution, proposed by the Senate Majority Coalition, that focuses on helping businesses create new jobs, investing additional funds in education and transportation, providing mandate relief to local governments, and restoring proposed cuts to women’s health programs as well programs for the developmentally disabled.  The budget also includes proposals to implement a two-percent state spending cap and reform the State’s film production tax credit program to level the playing field for Upstate.

March 12, 2013
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Department of Financial Services to Speek Resolution of Insurance Claims in Areas Affected by SANDY

The NYS Department of Financial Services (DFS) is setting new rules to speed the processing of insurance claims in areas affected by Storm Sandy. The new regulation reduces the amount of time an insurer can delay its decision on a claim, and requires insurers to report to the Department on how many claims it is delaying and the reasons for the delays.

February 27, 2013
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Governor Cuomo Outlines 2013-2014 Executive Budget to Maintain Fiscal Responsibility and Continue to Invest in Economic Growth

Governor Andrew M. Cuomo unveiled the proposed 2013-14Executive Budget and Management Plan that builds on two years of balanced, fiscally responsible budgeting and invests in economic development, education reform, rebuilding after Superstorm Sandy, provides support to local governments and school districts, and includes no new taxes or fees.

Highlights of the Executive Budget:

· Eliminates $1.3 billion budget gap with no new taxes or fees. The expected gap for 2013-14 was projected to be $17.4 billion prior to the last two responsible budgets.

· Holds spending increases below 2 percent for third consecutive year.

January 23, 2013
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