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Feb 11, 2021 The coronavirus has had a devastating impact on the economy, with millions of Americans out of work, a $15 billion budget deficit in New York. The North Country has seen businesses close and entire industries struggle, but a new report from State Comptroller Tom DiNapoli shows some growth in the region over the last year. Emily RussellAdirondack tourism helps drive North Country 2% sales tax growth Lake Placid in the winter of 2020. Photo of the Day by Christie Sausa TOM DINAPOLI: For the first quarter of 2020, we saw a net increase [in sales tax] and then rapidly, because COVID hit in mid-March, the second quarter was like a 27% statewide drop. We ve seen some recovery since then, but we re still down for the year 10%. New York City, particularly, has been hard hit and when you look at the North Country, and actually look at most of the counties outside of New York City, you ve actually seen a slight increase and in some counties, even higher ....
Insurers Have Been Draining Funds from New Jersey’s Pensions for 15 Years Report calls 2006 policy that shifted financial obligations for employee injuries to pensions ‘a windfall to insurers.’ Insurance firms have been siphoning off money from New Jersey’s pension funds for the past 15 years thanks to a policy decision that shifted financial obligations for employee injuries to pension funds, according to an investigation by acting state Comptroller Kevin Walsh. A report on the investigation said that a 2006 policy adopted by the Division of Workers’ Compensation (DWC) encourages injured employees to accept continuing medical monitoring and coverage instead of cash settlements. The report said the approach, which puts the financial burden on pension funds to pay workers rather than on insurance firms, has provided “a windfall to insurers and financially harms the pension funds.” ....
Monday, January 11, 2021 Recession cuts how much lawmakers can spend with the next state budget, but decrease isn’t as bad as feared Posted By Mitchell Ferman, The Texas Tribune on Mon, Jan 11, 2021 at 1:44 PM click to enlarge Flickr / Ed Schipul Texas lawmakers will enter the legislative session this week with an estimated $112.5 billion available to allocate for general purpose spending in the next two-year state budget, a number that s down slightly from the current budget but is significantly higher than what was estimated this summer when the coronavirus began to devastate the economy. Texas Comptroller Glenn Hegar on Monday announced that number in his biennial revenue estimate, which sets the amount lawmakers can commit to spending ....