tax revenue

Ellen Abbott / WRVO News File Photo

After several years of budget surpluses, New York state tax revenue is coming in at a lower-than-expected rate.

That could affect big-ticket programs like school aid and health care as well as a multi-year tax cut planned by Gov. Andrew Cuomo and legislators.

Income tax collections are down nearly three-quarters of a billion dollars from what Cuomo’s budget division projected in April, at the start of the state’s fiscal year.

Ellen Abbott / WRVO News File Photo

An official from Oneida County is threatening legal action over proposed state legislation that would give Madison County more casino revenue from the Oneida Indian Nation.

Ryan Delaney / WRVO News file photo

Despite a tumultuous summer, Wall Street saw its best performance in the first six months of this year since 2011. A report from the New York state comptroller's office released Tuesday found that the securities industry earned more than $11 billion first half of 2015, a 29 percent increase from the same period last year. In addition to higher profits, Wall Street salaries, bonuses and employment are all on the rise.

Overall, sales tax revenue in New York increased for the first half of this year, but revenues were mixed across the state.

Across the board, New York saw sales tax revenue grow $177 million over the first half of this year, according to numbers tallied by the state comptroller's office. That's a 2.5 percent jump, but it's been an uneven increase, with some counties seeing big gains, while others decreased.

More  projected sales tax revenue for the City of Syracuse could mean some new programs, including seed money for a new downtown senior center.  Lawmakers say they want  the extra spending to be an investment in the city.