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 FOR RELEASE:

Immediately
January 2, 2013

 

New York State Comptroller Thomas P. DiNapoli Statement
on Fiscal Cliff Agreement

The action in Washington to keep the nation from heading over the fiscal cliff is welcome news. With many areas of New York still struggling to recover from the Great Recession, the state’s economy would have suffered a crushing blow had an agreement not been reached to avert onerous tax hikes and spending cuts.

While the agreement has flaws, I am relieved to see that tax cuts for most middle class taxpayers were extended and that millions of New Yorkers will be spared from the Alternative Minimum Tax.

While one fiscal crisis has been averted, another one may occur if the House of Representatives fails to approve the Hurricane Sandy aid package that has already passed the Senate. Those hit hardest by the storm should not have to endure even more suffering because of political delay.

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