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Young Invincibles’ Preliminary Response to Governor Cuomo’s FY-2018 Executive Budget

FOR IMMEDIATE RELEASE:
January 19, 2017
CONTACT: Sarah Schultz, sarah.schultz@younginvincibles.org, 202-734-6510

[New York] — On Tuesday night, New York State Governor Cuomo released his FY-2018 Executive Budget. To read Young Invincibles’ full analysis of the budget, please click here. Kevin Stump, Northeast Director of Young Invincibles, released the below statement in response:

  “Governor Cuomo just released the latest executive budget, which has the opportunity to direct much needed funding to programs that help young adult New Yorkers get the education and skills they so badly want and need to enter our state’s economy. With more than 15 percent of 16-to-24-year-olds unemployed and looking for work, this could translate to a potential loss of about $8.8 billion in earnings to New Yorkers over the course of the next decade–the stakes are too high to get it wrong.

The Governor is also proposing to double down on the state’s marquee youth employment program – the $50 million New York Youth Jobs small dollar tax credit for employers – despite evidence suggesting employers don’t find it effective and would rather see investments in training to skill up tomorrow’s workforce.

We are excited by the increased funding Governor Cuomo’s budget dedicates to supporting young adults, but see improvements that must be made to truly support this population in the longterm. The Governor’s plan to make college more affordable through the Excelsior Scholarship is laudable, but we have serious concerns with details of the current proposal that would exclude and penalize part-time, working, low-income students. Additionally the Governor’s budget proposes another five years of unaffordable annual $250 tuition hikes to SUNY and CUNY students who don’t qualify, and provides no “Maintenance of Effort” funding to ensure schools can keep up high quality programs.

We hope that these vital funding streams will continue to be bolstered but also be directed to those programs that provide quality opportunities for young people. With most jobs today requiring a post-secondary education, and with poverty and unemployment rates for young adults across the state remain high, it’s critical that the final budget deal invests in strategies we know work.”

To read Young Invincibles’ full analysis underscoring the unmet needs of young adult New Yorkers, especially SUNY and CUNY students and those entering the workforce, please click here: YI FY-2018 New York State Budget Analysis.