Downward revenue projections this summer from the state Division of Budget means New York policymakers will likely have to choose between slowing the growth of spending or raising taxes when crafting next year’s budget.

Asked on The Capitol Pressroom about these two policy directions, Lt. Gov. Antonio Delgado wouldn’t rule out either option, stressing that there were a number of unknown variables at this time, including the state of the economy next year.

“I think it’s important to have some flexibility going into the new year, understanding all the different pieces and see where we’re going to be,” Delgado said.

When pressed on the issue, he said, “It’s important to always make sure that you are receptive to the data on the ground in real time.”

During this year’s  budget process, Gov. Kathy Hochul rejected the idea of raising taxes, but there also wasn’t much pressure from the Legislature to boost revenue and the state’s fiscal situation this spring didn’t necessitate many tough choices.  The budget process for 2023 isn’t expected to be as easy.

The full conversation with the lieutenant governor, which touches on the cost of living and public safety, will air on Thursday’s edition of The Capitol Pressroom.