WESTCHESTER COUNTY, N.Y. -- Assemblyman Steve Katz (R,C-Yorktown) has issued a statement on the Commerzbank settlement.
In its lawsuit against Commerzbank, New York State has been awarded $610 million. This money will be used as part of the state budget for the next year, and, in conjunction with other money, Katz believes it would be better spent in the hands of the people as a STAR rebate check.
"People always spend money better than the government, and Albany should honor that by sending roughly $500 more in STAR rebates back to the people," Katz said.
"The state wasn't expecting the money this year, and if we're going to spend it in the budget somehow, we should be giving it back to the people. Let's not go around creating new programs that we're going to have to find ways to pay for next year; let's just give it back to the people. There isn't a family in New York State that when you ask them if they could use an extra $500 is going to say no. Let's help out those families; not use it on Albany pet projects."
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