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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
Health Care
Improving Medicaid Further In New York Is Challenging But Vital
June 20, 2016
The State’s Department of Health and its Medicaid Redesign Team have developed and implemented strategies that have yielded significant quality improvements and savings, but much more is needed.
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.
Press Release
Health Care
CBC Report Finds Cost-Effective NYS Medicaid Reforms Face Challenges
Significant Additional Gains Will Require Several Years, Continued Refinement of Strategies
May 23, 2016
This report finds that the strategies of the Medicaid Redesign Team and the New York State Department of Health have yielded significant savings and quality improvements, but realization of their full potential faces serious implementation challenges.
Op Ed
City Budget
A Mixed Budget Message
May 02, 2016
Mayor Bill de Blasio’s executive budget and accompanying four-year financial plan send a mixed message about New York City’s fiscal outlook. For the short term, economic performance and local revenues are exceeding expectations this year.
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
Pensions & Benefits
NY Needs Real Pension Reform
December 07, 2010
Senior Research Associate Maria Doulis pens an op-ed on the need to reform public employee pensions that costs state and local governments nearly $1.5 billion.
Op Ed
Pensions & Benefits
City Worker Pensions Vs. Kids
Bloomy Must Cut Youth Services Because Adult Costs Are Out Of Control
December 04, 2010
New York provides a troubling example of how the inability to contain costs associated with a large municipal workforce imposes a greater burden on the most vulnerable populations, notably low-income children.
Op Ed
Health Care
Where Cuomo Should Cut Medicaid
November 29, 2010
Governor-elect Andrew Cuomo, facing a $9 billion projected gap in the state budget when he takes office in January, should move quickly to rein in the state's out-of-control Medicaid spending.
Op Ed
Housing
Rent Regulation: A Big Tax On NY
The Law Needs a Massive Overhaul
July 06, 2010
The push to continue rent regulation is fueled by far more populist rhetoric than economic reason. As a corrective, a new report by the Citizens Budget Commission reveals some startling facts about the current system.
Op Ed
Pensions & Benefits
Sickening 'Sweeteners'
June 28, 2010
Pension contributions this year will cost the state government alone $1.7 billion in fiscal year 2010-11 -- an amount already set to grow 85 percent, to $3.2 billion, by 2014. How much higher must it go before the Legislature puts the taxpayers ahead of special interests?
Op Ed
Economic Development
NY Needs to Create Jobs
June 02, 2010
Deputy Research Director Elizabeth Lynam penned an op-ed in the Albany Times Union that advocates for the overhaul of the State's economic development programs in order to capture true job creation with scarce resources.
Op Ed
City Budget
Time for Prudence in City Benefits
April 10, 2010
Executive Vice President and Director of Research Charles Brecher pens this op-ed that discusses ways to rein in growth of the City's retirement benefits, notably pensions and health insurance.
Op Ed
State Budget
No More Aid for the Affluent
March 27, 2010
CBC President Carol Kellermann explains how the State can cut spending equitably in the three largest areas of the budget: Medicaid, education, and employee benefits.
Op Ed
Education
What Mike Must Get From Teachers
January 31, 2010
President Carol Kellermann outlines what Mayor Bloomberg must accomplish in his negotiations with the Teachers' Union in order to get the vital reforms needed to fix the school system.