But taking down the spending base on what’s left of this fiscal year means there will automatically be an effect on the coming fiscal year. Will it mean lowering what he wants to give to public schools? That will be a dilemma Cuomo faces as lawmakers insist his school aid number is already too low. Will it mean tax hikes, or perhaps freezing the next phase of a middle-class income tax cut that began several years ago? Cuomo would not say, deferring until the fiscal picture becomes clearer.

Assembly Speaker Carl Heastie, a Bronx Democrat, said Monday afternoon that he has talked with Cuomo but it is uncertain precisely what's behind the revenue drop or, perhaps more importantly for lawmakers, whether the situation might improve in the weeks ahead. "I share in his concern, but I'm just not sure what is actually causing it,'' he told reporters outside his Capitol office.

Asked if Cuomo had provided any spending cut or tax raising ideas, Heastie said: "It is way too early to say what we can do and cannot do and where we're going.''

Calls to bolster rainy day reserves

Fiscal groups have been warning the state for years to boost funds in reserve accounts. Cuomo this year proposed adding $488 million to reserve funds, taking them to $2.2 billion.