Murphy fulfills promises with spending cap and term limits

ALBANY, NY - State Senator Terrence Murphy has crossed two more things off the list of items he set forth in his legislative agenda last year. Today, Murphy announced passage of a state spending cap, as well as term limits for both houses of the legislature.
 
"Since my time in local government, I've long advocated for property tax reform and ethics reform, measures the Senate has now made one step closer to reality," Senator Murphy said.
 
The legislation that would permanently cap state spending codifies the self-imposed spending restraint demonstrated with the budget Murphy voted for last year. The bill (S.5507), cosponsored by Senator Murphy, would limit state spending to a three-year rolling average of inflation. This approach would help end the historic pattern of "boom and bust" cycle budgeting, impose greater fiscal discipline on state government, and continue providing significant savings for taxpayers.
 
The bill would take effect in the 2017 Fiscal Year. When applying the actual and projected rates of inflation for 2014 (1.6%), 2015 (0.2%), and 2016 (2%), the three year rolling average spending cap for 2017 would be 1.27%. This bill would then result in an expected savings of $12.8 billion for the state's spending plans in Fiscal Years 2017 through 2019.
 
"Hudson Valley families know all too well about living on a household budget," Senator Murphy said. "Today's legislation, which I proudly sponsored in the Senate, will ensure the State now meets its obligation to live within its own means and provides yet another crucial tool to protect the overburdened taxpayers of New York State."

During his short tenure in Albany property tax relief has been a priority for the freshman Senator.  In addition to today's milestone legislation, Senator Murphy has also successfully led the fight to make the property tax cap permanent, delivered a new rebate check for STAR-eligible homeowners and provided needed mandate relief through crucial Medicaid reforms.
 
The State Senate also passed legislation today, Senate Bill (S.2722B), that would set into law eight-year term limits for leadership positions in the Senate and Assembly. This bill is consistent with what is already in place in Senate rules and also limits the number of years a legislator can serve as a committee chair or party leader.
 
The bill limits the tenure of the Temporary President of the Senate, Speaker of the Assembly and minority leaders of both houses to eight years. Legislative committee chairs would also be limited to serving no more than eight consecutive years.
 
"If being in Albany has taught me anything, it is the need to lead by example," Senator Murphy said. "Even though the Senate has voluntarily term limits, we need to make them permanent in law for both the Senate and Assembly. You cannot have ethics reform without term limits."
 
The bill will be sent to the Assembly.