With all eyes on Eliot Spitzer and the future of the governorship unclear, Joe Bruno is introducing a cap on how much an executive budget can increase state spending.

Because, in case anybody forgot, the state budget is due April 1. And Bruno probably sees this as a good time to challenge the governor's power.

Here's the statement:

The New York State Senate Majority today proposed enactment of a
constitutional spending cap that would prevent the Executive from
submitting a Budget that increases spending by more than four percent over
the previous year’s Budget and force both houses of the Legislature to live
within reasonable spending limits.

“The past two State budgets have increased State spending
dramatically, and last year the Executive Budget contained one of the
largest increases in State spending in history,” Senate Majority Leader
Joseph L. Bruno said. “On top of that, the Executive Budget has proposed
massive tax increases on hardworking New Yorkers to pay for spending hikes.
And to make matters worse, the Assembly Democrats want to raise taxes by
$1.5 billion. That’s why as part of our budget plan the Senate Majority
will propose to cap State spending - because we don’t need more spending
and taxes - we need more accountability in Albany.”

Under the Senate proposal, year-to-year State spending increases
would be limited to 120 percent of the Consumer Price Index (CPI) or 4
percent, whichever is less. In any given year, fifty percent of tax
revenue that exceeded the cap would be placed in a reserve fund and fifty
percent would be returned to taxpayers in the form of direct tax rebates.

In addition, the amendment would force the Executive to resubmit a
balanced Budget to address any shortfalls in revenue that occur after the
submission of the Executive Budget, and make any necessary spending
revisions to reflect the declining revenue.

“This cap would slam the door on massive increases in State spending
and hold a Governor accountable for maintaining a balanced budget,” said
Senator Owen Johnson (R,C-Babylon), the Chairman of the Senate Finance
Committee. The family budget is more important than the State Budget, and
we have to stand up to protect taxpayers from being taxed out of their
homes.”

Senator Bruno said that if a constitutional amendment had been in
place the last five years, State taxpayers would have saved $13.1 billion,
half of which would have been returned to taxpayers and the other half
placed in a rainy day reserve fund.

“With all of the talk about forcing school districts to implement a
tax cap, we must lead by example and do more at the State level to control
spending and taxes,” said Senator Bruno. “A constitutional amendment is
the only guarantee against excessive and wasteful spending and higher taxes
to pay for that spending.”

In addition to the spending cap, Senator Bruno said that Senate
Republicans will reject nearly $1.7 billion in tax and fee increases
recommended in the Executive Budget. The Assembly Majority’s has also
proposed to increase the State’s Personal Income Tax (PIT) by $1.5 billion,
which has been unilaterally rejected by Senator Bruno and his Majority
colleagues, saving taxpayers at least $3.2 billion this year. In addition,
the State’s Democrat-allied Working Families Party has called for rolling
back $16 billion in tax cuts which would lead to an unprecedented assault
on taxpayers to pay for additional reckless State spending.

The constitutional spending cap proposal would give the Executive the
authority to exceed the cap in the event of a fiscal emergency or other
extraordinary circumstances, however, the Comptroller would be required to
independently certify the financial crisis.

According to a 2007 report by the National Conference of State
Legislatures, thirty states have put in place statutory or constitutional
tax or spending limits. New York continues to rank at or near the top in
combined state and local tax burden, further illustrating the need to enact
a spending cap.

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