Wall Street Boom to Cut New York State Budget Deficit in Half

New York State projects its budget deficit will narrow by 3.5 billion dollars in the coming year, based on expectations of increased trading activity and borrowing on Wall Street that would generate higher profits and bonus payments. The state's revenue projections depend on increased tax collections from financial sector earnings. State officials did not provide a timeline for when the deficit would be eliminated entirely.

• Bloomberg — Wall Street Boom to Cut New York State Budget Deficit in Half

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