DINAPOLI SPEAKS AT RBA

NYS Comptroller visits Rockland with updates

Rockland Business Association members and guests welcomed NYS Comptroller Tom DiNapoli to its February 2025 luncheon held at Nyack Seaport on Thursday, February 13, where he delivered an update on the state’s economy and his takeaways on the proposed 2025 budget.

DiNapoli praised County Executive Ed Day for leading the county out of financial distress to financial largess, as it is now among the top five counties in the state in the plus column. “Your County Executive, he’s no nonsense…he’s very direct—and I value his sense of partnership. Rockland has faced some crucial finances challenges,” said DiNapoli to the packed room of attendees, noting that Day’s leadership has put the county on a strong fiscal path. DiNapoli also acknowledged the challenges school districts face with funding, particularly the issues in the East Ramapo School District, which has had a state monitor appointed to it to oversee its expenditures.  

DiNapoli provided guests with an overall update on where New York is in terms of how the state is doing financially. “We are still recovering from the damage of Covid. Unemployment rates continue to go down statewide and currently at 4.5 percent. Rockland is doing much better, at 3.3 percent; we have grown back many of the jobs we lost during the pandemic, and this region has seen more than 7,000 new jobs created.”

The Comptroller addressed Gov. Kathy Hochul’s proposed $252 billion budget, the highest ever presented. “Two of the biggest costs are school aid and healthcare, particularly the Medicaid program. We must look carefully at how we are funding our schools…and people are living longer, with many are in nursing care facilities and it has boosted the cost of Medicaid.  We need to identify those costs and where they’re headed.” 

DiNapoli said Hochul is also proposing to lower the income tax rate for middle-income residents. “The challenge we look at in my office is adding the numbers up. While we do have better-than-projected revenues, there are budget gaps that have been there already and that will continue to grow. Childcare is another sector of the economy that was hit hard by Covid, and there are many ‘childcare deserts’ in the state. Our costs are among the highest in the nation, an average of $14,000 per child, second highest after Massachusetts.” Ultimately, said DiNapoli, “It is up to the Governor and the State Legislature to decide where to spend the money.”    

Taxpayer migration is also another concern: “We have a net loss of taxpayers at the upper end, and the top one percent of wage earners in this state pay 40 percent of our tax revenue. We do not want to drive people out of New York—but for some, it is getting to that tipping point.”

Members of the RBA will soon be visiting Albany with former NYS Legislator and new RBA President Ken Zebrowski within the next month. DiNapoli urged members to attend, telling them they are advocates for each other and the region. “When you visit Albany, come with a unified voice.”