August 17, 2012

Statement from Speaker Silver on
S&P's Revised New York State Outlook

Standard and Poor’s Rating Service has taken notice of our tremendous efforts to restore New York State’s economic outlook.

Over the last two years, we have taken significant steps to get our fiscal house in order. We eliminated a budget deficit of $10 billion dollars. We implemented a progressive, job creating economic plan. We restored equity to our tax code and provided much needed tax relief to middle class families.

On behalf of the Assembly Majority, I commend Governor Cuomo for his fiscal stewardship. It is in partnership with the Governor and our colleagues in the Senate that we have been able to put New York back on track. These critical steps have improved government efficiency while ensuring that we continue to provide vital safety net programs for working families, students, senior citizens and our most vulnerable populations.