Gov. Paterson proposes tax refund delay
Gov. David Paterson is considering a plan that would delay income tax refund checks to ensure that New York doesn't run out of cash. Paterson says the plan would allow him to free up money to pay back
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May 22, 2014, 7:30 PM
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Updated 3,911 days ago
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Gov. David Paterson is considering a plan that would delay income tax refund checks to ensure that New York doesn't run out of cash.
Paterson says the plan would allow him to free up money to pay back nearly $20 billion in debts before having to dip into next year's budget.
New York has paid out some $293 million in tax refunds so far this year. The state would have until June to pay out the remaining refunds before they start accruing interest.
Lawmakers say the plan may not affect people who have already filed their taxes.
Paterson is expected to decide on the plan in the coming weeks.
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