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N.Y. Deficit Widens 10% on Wall Street’s Smaller Cash Bonuses

N.Y. Deficit Widens 10% on Wall Street’s Smaller Cash Bonuses
Brief Date: 
03rd Feb 2010
Brief Author: 
Michael Quint

Feb. 3 (Bloomberg) -- New York state’s budget gap next year will be $750 million, or 10 percent, wider than projected two weeks ago because Wall Street’s cash bonuses are less than forecast, Governor David Paterson said.

Paterson proposed a $134 billion spending plan last month to close a $7.4 billion deficit that relied in part on increases in personal income-tax revenue.

Source: Business Week Link Below

 

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