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Press Release
CBC News
CBC Releases "Real Numbers, Real Choices"
April 18, 2024
Real Numbers, Real Choices details that the Mayor’s Executive Budget—due next week—should give a more accurate picture of the City’s fiscal standing to foster budget choices that stabilize the fiscal future. Making budget decisions based on unrealistic estimates increases the chances of a future fiscal reckoning.
Statement
State Budget
Conceptual Budget Agreement Appears to Take State Further in Wrong Direction, Increasing Structural Gap above $16B
Lawmakers Should Show Basic Financial Plans
April 15, 2024
The two-week late “conceptual” budget agreement leaves New York State with a significant future structural budget gap likely exceeding $16 billion.
Statement
State Budget
Statement on Late NY State Budget for FY 2025, Need for Another Extender
April 11, 2024
Late budgets should still be good budgets. This final stretch should be short and produce a budget that is good for New Yorkers now and in the long run.
Press Release
CBC News
CBC Releases "Setting the Right Ceiling: Rethinking the City’s Debt Limits and Capital Process"
April 03, 2024
CBC recommends the State reject the arbitrary, lump sum debt limit expansions the City and Executive Budget proposed, and adopt a more analytically grounded, sustainable approach.
Press Release
CBC News
CBC Releases "It's Only Fair: The Urgent Need for Stronger Policies to Stop Fare and Toll Evasion"
April 02, 2024
CBC's new analysis finds that fare evasion has continued to grow, likely exceeding $700 million in 2023—an amount equal to the funding that would be raised by two rounds of fare hikes.
Statement
Pensions & Benefits
Statement on Proposed Tier 6 Benefit Sweetener as Part of State’s Fiscal Year 2025 Budget
March 27, 2024
The proposed change to Tier 6 pension benefits, which will cost the State and local governments in New York nearly $400 million per year, is unnecessary, expensive, and should be rejected.
Statement
State Budget
Statement on Medicaid/Managed Care Tax Proposal in NYS Budget Talks
March 26, 2024
The proposal to levy a new tax on Medicaid and other managed care plans to leverage $4 billion of federal money relies on speculative, temporary revenue to seed permanent spending increases.
Press Release
CBC News
Straight from New Yorkers:
CBC Resident Survey Gives Comprehensive View of Satisfaction with Quality of Life, City Services
March 19, 2024
CBC’s first post-pandemic Resident Survey shows sharp drops in citywide satisfaction ratings from 2017; New Yorkers rate life in their neighborhoods generally higher than citywide quality of life; Adams Administration’s priorities align with those of New Yorkers
Press Release
CBC News
CBC Releases "Target and Tighten: The Sustainable Path for School Aid Growth in New York
March 13, 2024
CBC’s new analysis finds that State school aid has annually increased 6.7 percent over the past three years.
Statement
State Budget
Statement on State One-House Budget Proposals
March 12, 2024
The Legislature's one-house proposals shift the budget discussion in the wrong direction. Both houses propose tax increases that would weaken New York’s already precarious competitive position.
Press Release
CBC News
CBC Submits "Testimony on the New York City Housing Authority and the City’s Preliminary Fiscal Year 2025 Budget"
March 12, 2024
While the agency has made some progress over the past year, it faces several, persistent challenges: a large operating budget gap caused by rising expenses and weakened rent collections; deteriorating physical conditions; and a clear and pressing need to continue improving and modernizing management.
Press Release
CBC News
CBC Releases "NYS Budget Outlook"
March 07, 2024
CBC’s NYS Budget Outlook finds that the Fiscal Year 2025 Budget is buoyed by higher projected tax receipts, but the additional funds still leave large annual budget gaps and a substantial structural budget gap.
Press Release
CBC News
CBC Submits "Public Comment on the Proposed Structure For the Central Business District Tolling Program"
February 29, 2024
Getting congestion pricing right in the long run will likely require adjustments. In addition to monitoring progress toward program goals—including the toll amount and proposed approach to taxis and for-hire vehicles...
Press Release
CBC News
Spotlight on Spending
PEG Cancelation Makes City Budget Transparency More Critical; State Should Continue to Level Off Spending Growth
February 22, 2024
When it comes to government spending, New York’s trajectory over the past several years is precariously on-brand with the “Excelsior” state motto.
Press Release
CBC News
CBC Releases "Top of the Charts"
February 13, 2024
Based on the most recent available national data, New York and its localities are at the top of the chart in taxes and are #2 in spending.
Press Release
CBC News
CBC Releases "Don’t Step Off the Cliff"
February 08, 2024
CBC’s “Don’t Step Off the Cliff” reveals that fiscal year 2025 planned spending is $3.6 billion short of what would be needed to fund the current level of programs and expenses.
Op Ed
City Budget
Taking Control of New York’s Budgetary Future
Vital City
January 25, 2024
Budget season kicked off with an Albany-New York City doubleheader last week, with brightening skies in both places thanks to proactive efforts to cut costs (especially in the city) and a resilient economy that is bringing in higher-than-projected tax receipts.
Statement
City Budget
Statement on the New York City Fiscal Year 2025 Preliminary Budget
January 16, 2024
While Mayor Adams leveraged strong revenues and wisely implemented two rounds of PEG savings to balance the Preliminary Budget, many more hard choices are still needed to stave off a fiscal reckoning.
Statement
State Budget
Statement on the New York State Executive Budget for Fiscal Year 2025
January 16, 2024
While the budget takes some important initial steps to reduce spending growth, significant additional restraint will still be needed to close the State’s structural budget imbalance.
Press Release
CBC News
CBC Releases "Facing Tough Challenges: What to Look for in New York State's Fiscal Year 2025 Budget
January 11, 2024
CBC’s “What to Look for...” zeroes in on the important questions whose answers will reveal if the proposal is righting the fiscal ship and dealing with the pressing policy issues key to New York’s stable and competitive future.