State Comptroller Tom DiNapoli says what's happening in Washington presents the greatest risk to the future of New York State's economy. He talked about that with economic development leaders of New York's North Country on Friday.
Whether it's changes to the Affordable Care Act or tax reform, DiNapoli said the proposed cuts at the federal level will have a ripple effect.
"The (federal) budget cuts would very directly impact state government, and by extension, local governments, putting holes in budgets that are already somewhat under stress," DiNapoli said. "It all gets back to the taxpayer. For a state like New York that is a high tax state, if we lose the deductibility of state and local taxes, it becomes a form of double taxation."
Governor Andrew Cuomo has said in recent weeks that a special session of the State Legislature may be needed to deal with what's happening in Washington. But State Assembly Speaker Carl Heastie said he believes the state is in fine shape for now and that he would only call lawmakers back to Albany if something unexpected happens at the federal level.
Comments from Comptroller DiNapoli were provided by Pat Bradley of WAMC, Albany.