Cuomo says New York could have $2 billion surplus in 2017

ALBANY— Even as Gov. Andrew Cuomo talks about tax cuts and surpluses, potential state budget challenges loom on the horizon.

Cuomo's budget plan claims the state can rack up a $2 billion surplus by 2017 as long as the governor and state lawmakers agree to keep spending growth under 2 percent over that time.

There are several big-ticket financial challenges in the years ahead as the governor and the Legislature make those future budgets.

Statewide universal prekindergarten could eventually cost roughly $1.6 billion a year.

Cuomo also proposed a broad range of tax cuts, freezes and repeals. The costs for the coming fiscal year would be $657 million, but they would more than triple the next year to $2.1 billion.