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Blog
City Budget
Federal Aid—Needed, But Unlikely to Solve New York State’s and New York City’s Fiscal Problems
A Look Back at Stimulus Funding During the Great Recession
December 01, 2020
Even with considerable additional federal aid the State and City still will have to implement significant actions.
Blog
Taxes
Getting Into the Weeds About Potential Recreational Marijuana Revenues
November 16, 2020
State leaders should be cautious about relying on these potential revenues to help close budget gaps.
Blog
City Budget
What to Look for in the NYC November Modification
November 10, 2020
While the prospects for additional federal stimulus may now be brighter, federal aid will not solve all the City’s fiscal problems, but can serve as a bridge to fiscal stability if City leaders take appropriate actions.
Blog
Taxes
Let a Sleeping Tax Lie
New York Should Reject Proposals to Reinstate the Stock Transfer Tax
November 09, 2020
If the rebate were eliminated, essentially putting the tax back into effect, New York would become the only state to impose such a tax on the sale and transfer of stock.
Blog
Taxes
Live From New York, It’s Excessive Tax Incentives!
October 28, 2020
Since 2004 New York State has allocated $7.8 billion in tax incentives to the film and television industry—almost enough to build two Mario M. Cuomo bridges or two Freedom Towers.
Blog
Taxes
Slumping Sales
Pandemic Continues to Batter City Economy
October 27, 2020
Recently released sales tax data show the COVID-19 pandemic and recession continue to batter New York City.
Op Ed
Taxes
Don’t Bring Back the Stock Transfer Tax
City & State
October 23, 2020
It could drive business out of New York and won’t live up to revenue projections.
Blog
City Budget
How the Pandemic Has Affected NYC’s Public Services, Activities, and Residents
A Close Examination of the MMR and 311 Data
October 20, 2020
The COVID-19 pandemic’s impacts extend beyond public health, the economy, and the public fisc to the services needed by and provided to New Yorkers.
Op Ed
City Budget
It’s Time to Fix New York’s Dysfunctional Construction Regulations
Crain’s New York Business
October 02, 2020
There is no better way to rebound from the economic and social damage inflicted by the Covid-19 pandemic than to seize the opportunity to address some of New York City’s most intractable challenges.
Blog
City Budget
FY2021 Agency Budget Realities
Increases vs. Decreases in City-Funded Spending
September 22, 2020
The City will likely need to implement additional savings programs in fiscal year 2021, as well as to identify savings to close the $4.2 billion gap in fiscal year 2022.
Op Ed
City Budget
A Budget Battle Plan for NYC
New York Daily News
September 16, 2020
Ensuring the city’s finances are well managed is more important than ever.
Blog
City Budget
Authority for NYC to Borrow for Operating Expenses Should Be Provided Only with Strict Conditions and Oversight
September 08, 2020
The City should not borrow now for the FY21 budget. Borrowing should be a last resort, and may be reasonable only if revenues deteriorate substantially from current projections.
Report
Public Workforce
How to Make $1 Billion in Labor Savings Real & Recurring
September 02, 2020
As the City faces the worst fiscal crisis in generations, municipal workers are also facing the dire prospect of layoffs.
Report
Housing
Strategies to Boost Housing Production in the New York City Metropolitan Area
August 26, 2020
Building more housing for every type of household can help make the New York region more affordable and competitive for generations to come.
Blog
City Budget
Was the NYPD Budget Cut by $1 Billion?
August 13, 2020
The size of the NYPD’s budget was a prominent focus of this year’s budget negotiations, with many activists and elected officials calling for a $1 billion cut.
Blog
City Budget
NYC FY2021 Adopted Budget
Short-Term Balance, Long-Term Challenge
July 21, 2020
After tense negotiations and a close vote ending early morning July 1, the City adopted an $88.2 billion budget for fiscal year 2021.
Blog
Transportation
How Will The MTA Fight Its Four-Alarm Fire?
July 13, 2020
Federal aid should be a significant contributor to solving this crisis. Yet, even if the MTA receives all the aid it has requested, its leaders face hard choices about how to manage the resources they control.
Blog
City Budget
Budgeting in a Time of Pandemic
City-Funded Spending Is Flat in FY2021
July 02, 2020
Adopting the budget was just the first step; negotiating and managing the changes necessary to achieve the assumed savings is next big, important step forward.
Blog
State Budget
New York Taxes: Layers of Liability
June 25, 2020
Any consideration of tax increases should include the impact on State and local economic competitiveness
Blog
City Budget
Seven Facts About the NYPD Budget
June 12, 2020
The NYPD is New York City’s third largest agency, commanding $10.9 billion in spending in fiscal year 2020, including pensions, fringe benefits, and debt service costs.