New York’s still-incomplete budget continues to delay the sale of personal income tax bonds and, according to a report released Thursday, contains assumptions for $4.8 billion of revenue and savings estimates that may be overly optimistic.

The state passed its spending budget in piecemeal fashion in the three months following the April 1 start of the fiscal year, but its revenue budget remains in limbo.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.