Ranzenhofer explains State spending cap legislation

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Video Type: 
Press Conference

State Senator Michael H. Ranzenhofer explains Senate Bill No. 1892, which would enact a State spending cap at two percent or 120 percent of the Consumer Price Index, whichever is less.  If a spending cap had been implemented for the previous ten years, New York would spend $30 billion less next year. Enacting a spending cap now would force the State to cut spending by $9 billion next year.  The legislation, introduced and sponsored by Senator Ranzenhofer, passed the State Senate on January 19.