October 22, 2009
STATEMENT FROM GOVERNOR DAVID A. PATERSON
“While I applaud reports that the Obama Administration is preparing to take steps to limit executive compensation for some of New York’s highest earners, it is not good news for New York’s tax revenue. I share in the populist rage over these CEOs raking in millions while their companies teeter on the brink of insolvency but for a federal bailout. They clearly have not earned their paychecks. However, the reported action also is the latest evidence that New York State can no longer rely so heavily on Wall Street. Once again, I am calling on the legislature to work with me to close our current budget gap and get New York back on sound fiscal footing.”
