More CBC News
Search Within News
Showing 1 - 20 of 28
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?
Press Release
Economic Development
CBC Study Calls for Better Reporting on Economic Development Projects
The Value of Investments Through Regional Economic Development Councils Cannot Be Determined Without Better Understanding Results
November 30, 2015
The study concludes that the value the Councils may have in coordinating economic development activities across the state cannot be properly evaluated with existing data.
Op Ed
Transportation
Funding the MTA Capital Plan: Avoiding a False Choice
July 30, 2015
Funding the next five-year capital plan for the MTA is a priority for the NYC region, and fortunately the funding gap has narrowed. The real question should be: how much funding should come from motorists versus taxpayers and commuters?
Op Ed
Pensions & Benefits
Fringe Benefits Challenge New York School Budgets
July 20, 2015
The problems facing school districts are complex, but one common challenge is the unrelenting rise in fringe benefit costs.
Op Ed
City Budget
New York City Should Be Cautious About Increasing Its Debt
June 16, 2015
New York City has more outstanding debt than ever before, and Mayor Bill de Blasio has proposed a 10-year capital plan that will increase it substantially.
Video
Pensions & Benefits
Cuomo Wants to Roll Back Part of Pension Reform for Police, Firefighters
NY1
May 15, 2015
When it comes to police and firefighters, Governor Andrew Cuomo wants to roll back part of the pension reform he helped push through the state legislature in 2012.
Press Release
Transportation
CBC Recommends Closing Funding Gap in MTA Capital Plan With Motor Vehicle User Charges
Best Options Are New Tolling Policies or New Vehicle-Miles Traveled Tax
March 25, 2015
This report examines the MTA’s current fiscal challenges and identifies options for funding its capital investment needs for the next five years. The analysis includes consideration of how well measures to raise money for the MTA fit into a broader financing plan for the state’s entire transportation system.
Op Ed
Economic Development
What's the Return on Investment for New York's Economic Development Efforts?
March 22, 2015
New York State's economic development programs have long been the subject of debate because it is difficult to measure the benefits they produce. Are the State's considerable investments worthwhile? Although their political value is clear, their economic value is not.
Press Release
Economic Development
CBC Releases Report on NYS Economic Development Programs
Modest Reforms Have Been Adopted, But Most Investments Continue To Be Problematic
February 19, 2015
The report analyzes the changes in economic development spending from 2010 to 2014 and the extent to which problems previously identified have been constructively addressed.
Op Ed
State Budget
Ten Key Takeaways from Governor Cuomo's Executive Budget
January 28, 2015
Last week, Citizens Budget Commission listed the Top Ten Things to Look for in the NYS 2016 Budget. Here is how they fared in the Executive Budget Proposal outlined by Governor Cuomo on January 21.
Op Ed
State Budget
More Bang For NY's Buck
December 27, 2011
As Governor Cuomo prepares his executive budget, he should seek structral changes that slow down the state's most potent cost-drivers (pensions, school aid and Medicaid), halt additional economic development spending and steer clear of budget tricks. Senior Research Associate Tammy Gamerman pens an op-ed for the New York Post.
Op Ed
Economic Development
Four Principles for Governor Cuomo's Regional Economic Development Councils
September 27, 2011
CBC Vice President and Director of State Studies Elizabeth Lynam pens an op-ed listing four principles to govern the operation of the new regional economic development councils. These principles will help the state face the sizable challenges ahead and avoid the mistakes made in past economic development efforts.
Op Ed
Capital Spending
Think Small to Think Big
July 10, 2011
In the July 2011 edition of the PPP Journal, Senior Research Associate Maria Doulis reviews the success of public-private partnerships in NYC and considers opportunities for pursuing additional PPPs.