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Press Release
Economic Development
Watchdog Groups Call for Emergency Oversight Hearing
Groups Respond to Historic Bid-Rigging Scandals
October 13, 2016
Numerous prominent budget and transparency watchdog groups today called on New York leaders to hold emergency oversight hearings on the allegations by the U.S. Attorney of the largest bid-rigging scandals in state history.
Press Release
Pensions & Benefits
Report Reveals Benefit to Teachers Costs NYC Taxpayers $1.2 Billion Annually
Teachers Guaranteed a 7 Percent Return on Deferred Compensation Investments
October 05, 2016
Like many public and private sector workers, New York City teachers can contribute to a voluntary tax-deferred compensation plan. However the teachers’ plan is unique in its guarantee of a fixed rate of return. Taxpayers are making up the difference at an annual cost of $1.2 billion.
Video
Economic Development
State Economic Development Programs: Are We Getting Our Bang for Our Buck?
TWC News
September 29, 2016
Allegations in state government are bringing more light to the state's economic development - the cost of many programs continues to rise but the rate of return doesn't hold up. CBC's Dave Friedfel explains.
Press Release
Economic Development
CBC Releases Scorecard Assessing the NYC Metro Area's Competitiveness
Scorecard Compares the NYC Region with the Nation’s 14 Other Largest Metropolitan Areas
September 28, 2016
The Citizens Budget Commission (CBC) today released its 2016 Competitiveness Scorecard, which assesses the competitiveness of the New York City metropolitan area (NYC metro) in attracting and retaining highly educated talent.
Op Ed
City Budget
The “20-20-20-20” Dilemma
The Need to Curtail New York City’s Legacy Costs
August 03, 2016
A giant and rapidly growing slice of the New York City budget pays for "legacy costs" - pensions, retiree health benefits, and debt service - which already exceed 20 percent of the budget and will expand by 20 percent to more than $20 billion in annual spending by fiscal year 2020. But the City can take steps to deal with it.
Op Ed
City Budget
The Rapidly Rising Cost of City Workers
New York City Employees Get $138,000 in Pay and Benefits, and Rising
June 09, 2016
The mayor and City Council quickly came to an agreement on the details of an adopted budget for fiscal year 2017, but little attention has been paid to spending projected over the course of the five-year financial plan. We ought to focus, and hold onto our wallets.
Op Ed
City Budget
Make NYC’s Retiree Health Benefit Trust More Trustworthy
May 25, 2016
The City of New York has a $70 billion liability for retiree health insurance costs and other post-employment benefits (OPEB), not including pensions. These benefits are contractually owed to retired city employees and are largely unfunded.
Video
Economic Development
NYS Exposed
Risky Business Investments
April 25, 2016
Billions of your taxpayer dollars are used in an effort to lure businesses to our region to create jobs. What's being done to make sure state money isn't being wasted?
Op Ed
Transportation
How to Fill the MTA's Budget Gap
November 18, 2014
Nearly six of every 10 of the 3.7 million people entering New York’s central business district each weekday rely on the Metropolitan Transportation Authority’s commuter rails, subways and buses.
Op Ed
Capital Spending
What New York Should Do With $4B
July 23, 2014
New York State will soon receive more than $4 billion in settlements from large financial institutions. It is an unprecedented windfall and it is generating discussion about what to do with the money.
Op Ed
City Budget
Issues Remain In Mayor de Blasio's New Budget
May 08, 2014
For months, the biggest fiscal uncertainty for the city has been how Mayor de Blasio would handle negotiations with the municipal unions that have been working without contracts.
Op Ed
Pensions & Benefits
Doulis: City, Teachers’ Agreement Resolves Major Uncertainty Around City’s Financial Plan
April 30, 2014
The tentative agreement between the city and the teachers union resolves major uncertainty surrounding the city's financial plan and ensures some stability in labor relations with a major segment of the city workforce for the next five years.
Op Ed
Economic Development
How to Make NYC Economic Development More Effective
January 26, 2014
The start of the new administration offers an important opportunity to review the city's economic development practices and assure that they foster growth by making business incentives more cost-effective and transparent.
Op Ed
State Budget
Budget Busters
August 18, 2008
CBC President Carol Kellermann discusses Governor David Paterson's offer of a menu of more than $1 billion in savings proposals from which he challenged legislators to select $600 million worth when they convened in Albany for a special session.
Op Ed
Pensions & Benefits
Paterson Must Veto Pocket-Picking Mandate
June 26, 2008
The Legislature recently passed a bill -- A9393A/S6457A -- that would prevent local officials from achieving savings in the skyrocketing cost of providing health insurance for government retirees and their dependents by prohibiting any reduction in benefits.
Op Ed
State Budget
Overhaul Prisons to Cut Costs
February 18, 2008
One place where the State can extract savings is in its prison system, an option that this op-ed discusses. New York simply does not need all 69 of its correctional facilities.
Op Ed
State Budget
An Easy Trim
December 15, 2007
This op-ed states that if State leaders want to avoid tax increases in what is already one of the most heavily taxed states in the nation, they will need to find savings of about $6 billion to $7 billion per year over the next three years.