Blogs > Saratogian Newsroom

The Saratogian Newsroom blog, complete with thoughts and commentary from our newsroom staff and regular posts on happenings around town.

Thursday, January 27

Tedisco wants the state to stay "O.U.T." of debt, Gibson appointed to Rebublican Policy Committee

Some updates from the inbox; Assemblyman Jim Tedisco (R,C,I-Schenectady-Saratoga) has introduced the O.U.T. (Over-Expenditure/Under-Expenditure/Transfer-Notification) of Debt Act following the discovery of overspending by the former state Senate Democratic majority.

According to a release, the legislation would require the Comptroller to be immediately notified of any over-expenditure of taxpayer monies and that all leftover funds are allocated to the general fund to pay down debt, unless the Governor and Legislature deem otherwise. If state agencies fail to comply, the Comptroller would be mandated to cancel any unapproved over-expenditures/under-expenditures or transfers.

“For New York’s government it should be O.U.T. with end of the year spending binges. Too many agencies attempt to empty their coffers at the end of the year to justify their budgets. This is when deficits build up,” said Tedisco.

Updated 3 p.m. - The bill is currently being drafted and will be introduced soon.

In Washington; Congressman Chris Gibson (R-Kinderhook) was appointed by House Republican Policy Committee Chairman Rep. Tom Price of Georgia to the Policy Committee for the 112th Congress.

“With his extensive military and education background, Congressman Gibson will provide significant contributions to the Policy Committee’s work,” said Price in a release on the appointment.

“I was honored to accept this appointment to the House Republican Policy Committee under the leadership of Chairman Price, and am looking forward to the opportunity to expand the number of issues on which I can have an impact. As every American is aware, our country is facing a number of significant challenges as we try to improve our economy and build a better future,” said Gibson.


Post a Comment

Subscribe to Post Comments [Atom]

<< Home