New York’s Cuomo Proposes Doubling Bond Sales in Borrowing Blitz
- Governor proposes $153 billion budget for 2018 fiscal year
- Budget calls for $7.1 billion of bond sales, jump of 131%
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New York Governor Andrew Cuomo proposed selling $7.1 billion of bonds in the fiscal year beginning April 1, more than twice as much as the current fiscal year, as the Democrat boosts spending on infrastructure.
The $153 billion budget includes $14.5 billion in capital spending for projects including the transformation of a landmark Manhattan post office into a railway station, improvements to highways to John F. Kennedy International Airport and grants to facilitate hospital mergers.