Reinvent Albany, the Citizens Budget Commission and others took umbrage with information provided by the state in its mid-year financial plan update, including a table that showed $2.4 billion in withholdings through September. The withheld payments were arranged in 10 categories and not broken down by agency or individual program.

Mayor Bill de Blasio and Gov. Andrew Cuomo, both Democrats, on Monday criticized the spending package for omitting aid to local governments. But Andrew Rein, president of Citizens Budget Commission, a nonpartisan fiscal watchdog, said the package would indirectly benefit city and state by helping some of the businesses and institutions hit hardest by the pandemic.

“It basically takes about a year to get to the point from when you authorize to where the commercial market is operating,” said Patrick Orecki, a senior research associate with the Citizens Budget Commission. “After that, it’s generally taken about two to three years for states to realize robust and fully mature revenues from legalizing marijuana sales.”

“NYC must take steps to stabilize finances, and most of it should focus on restructuring government and working to save money in the long run,” summed up Andrew Rein, chairman of the Citizens Budget Commission (CBC), “a nonpartisan, nonprofit organization seeking constructive change in the finances and services of the city and state of New York.”

Other recent reports, however, caution that New Yorkers shouldn't expect potential marijuana tax revenues to solve all the state's fiscal woes. The Citizens Budget Commission, for example, released a November report arguing that New York should be hesitant about relying on potential revenues from the legalization of recreational marijuana as a way to quickly close gaps in the state's budget.

“The City needs to take steps to stabilize finances and most of that should be focused on restructuring government and working on saving money in the long run,” said Andrew Rein, the president of the Citizens Budget Commission.


“The city deserves federal aid which will help them bridge this problem of COVID, but that federal aid has never in the past — and will not this time — take care of that problem forever.”

“Federal aid would be critical and incredibly beneficial in the short term,” said Andrew Rein, the president of the Citizens Budget Commission, a financial watchdog. “But the M.T.A. has a long-term problem. So they need to look at other tools in their belt too.”

Citizens Budget Commission president Andrew Rein said that while they do absorb scarce resources, they won’t change the big budget picture.

“If the MTA can get $4 billion it’s an incredible help to its bottom line,” said Andrew Rein, president of the Citizens Budget Commission. “Short-term, it’s a game-changer. It allows them to go into next year secure in the fact that they can get through the year as long as they continue to make significant efforts to reduce their cost structure.”

The independent Citizens Budget Commission warned that further taxing of the wealthiest New Yorkers, which is proposed by much of the Assembly’s Democratic majority, may come with a price for the state.



"New York's leaders must seriously consider the risk that wealthy New Yorkers leave the state, taking their important share of state taxes with them," said commission’s president Andrew Rein. "If just 1% of the top 1% that leaves, it will cost New York State approximately $200 million."

“If you rack up too much debt you don’t have enough money for your other operations,” explained Andrew Rein, president of financial watchdog Citizens Budget Commission.

That figure could almost double, because it assumes the state will find $8 billion in recurring savings in its current fiscal year, according to David Friedfel, director of state studies for the Citizens Budget Commission, a fiscal watchdog group.