Comptroller Andrew Maylor has temporarily backed off his threat to unilaterally sweep more than a $1 billion in surplus revenues from last year into the state's "rainy day" account, suggesting that "substantial progress" in negotiations between the House and Senate has left him somewhat optimistic that a deal can be reached.
Maylor, in a statement, said that he has been communicating throughout the day with the chairmen of the House and Senate Ways and Means committees. He said he remains ready to transfer the surplus as soon as Thursday morning if "clear progress toward final enactment" is not made during Wednesday's House and Senate sessions.
"The suspension will allow for a reasonable accommodation for the House and Senate to hold floor votes on the bill," Maylor said.
The House and Senate have both been in recess since Wednesday morning as negotiations over how to spend the surplus from the fiscal year that ended on June 30 continue.