BUDGET ISSUES IN NEW YORK STATE Speech or Presentation

BUDGET ISSUES IN NEW YORK republic - Speech or Presentation ExampleOne of the major issues that had an impact on the New York cipher was the reforms done on the gross gross revenue revenue enhancement revenue in 2010. According to the New York State Senate Committee on Budget and Tax Reforms, the sales tax was not effective in keeping pace with the technological changes as well as economic development. One of the notable aspects of the sales tax was that there was king-size amount of uncollected revenue thus affecting the verbalise cipher in terms of change magnitude deficit. For example, according to Scott Peterson a member of the aerodynamic sales tax governing board, in 2011 New York compute experienced a deficit of $1,518 million based on the uncollected sales tax amounting to $1,415.3million. This resulted to the brass of public roundtable that was aimed at discussing the sales tax. Thus the sales budget battle array plow was streamlined leading to reduction in th e budget deficit. According to the Senate Select Committee that was formed by the Senate, the sales tax legislation that was passed in 1965, was being affected by the technological, political and economical trends. For example, the committee indicated that the providence was changing to service from industrial based economy. Additionally, there has been an increase in the tax credits as well as sales tax exemption over the years. Thus, there has been no significant maturation on the revenue thus affecting the government expenditure. Another notable issue on the sales tax bill that was passed by then governor Nelson Rockefeller was that internet services as well as mail order were major areas where sales tax remained uncollected. This had a negative impact on the state budget in the sense that despite the increased government expenditure, there were no effective mechanisms of tax collection. Based on the impact of the trends in the technology, economy and politics in the form of un dermining the fiscal property of the state of New York, Krueger, the leader of the Select Committee, arranged for a meeting with other stakeholders to discuss on how the fiscal stability of the state would be enhanced by establishing a proper sales tax policy which was more rational and economical. This included modernizing the sales tax system. After the meeting to improve the collection and use of the sales tax for improvement of public activities, the committee recommended the use of Streamlined Sales and go for Tax Agreement (SSUTA). This entailed rules that the government authorities would adopt during the collection of sales tax from the urban and topical anesthetic sellers. One of the key aspects that led to the success of the roundtable meeting to solve the sales tax crises that was held in Albany, was the involvement of various stakeholders. For example, the committee took into consideration the ideas from eleven tax experts from various industries. Thus, the experts pro vided resourceful technical contributions to the aim committee thus making the whole process a success. Fixation of New York broken budget process The second issues that affected the budgeting process were the reforms that were initiated by Senator Krueger to fix the New York broken budget process in 2010. Krueger aim was to make comprehensive reforms