Paterson Calls Public Meeting On Economy

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The New York Sun

ALBANY — Governor Paterson plans to meet with legislative leaders next week in a public session to deal with losses of tax revenue and jobs from Wall Street’s meltdown.

The public leaders’ meeting October 3 in Manhattan will be days after the administration receives the second quarter fiscal report that is expected to show steep declines in revenues from a string of failures in the financial sector. Wall Street revenues — business taxes and income taxes — account for about a fifth of state revenues.

The meeting doesn’t mean the Legislature would return to act before November 4, when every seat is up for election.

Such sessions while lawmakers are busy campaigning are rare, although the Legislature frequently returns to session in December. The regular session runs between January and June.

“Anything is possible,” John McArdle, a spokesman for Senate Majority Leader Dean Skelos, a Long Island Republican, said. “I’m sure that will be a topic of discussion.”

The speaker of the Assembly, Sheldon Silver, a Manhattan Democrat, will also attend the meeting.

“The speaker has said he’s prepared to return to session at any time if there is a need to do so,” Mr. Silver’s spokesman, Dan Weiller, said.

“We have already taken extraordinary action to contain state spending, but the events that unfolded in our state and nation over the last two weeks have created an urgent need for a reassessment of the current year’s budget and the planning for next year’s,” Mr. Paterson said.

“Now is the time for us to agree on a plan of action to be implemented before year’s end,” Mr. Paterson said.


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