GARDEN CITY - Americans will spend an estimated $586 billion this holiday season according to industry estimates, but most Long Islanders say they won't part with extra cash this year.

The latest News 12-Hofstra University poll shows that 43 percent of Long Islanders will spend the same this holiday season as they did last year. Another 40 percent of responders said they'd spend even less than last year, while just 16 percent said they'd spend more.

Retail experts say that even though the economy is faring slightly better, people could be spending less because of Superstorm Sandy damage and because of the possibility of tax hikes that come with the looming "fiscal cliff."