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Blog
Economic Development
Should New York's REDCs REDO Their Plans?
December 06, 2016
After 5 years, CBC reviews regional job creation results by industry, and the lackluster results suggest it is time to rethink the strategic plans of the REDCs.
Report
Pensions & Benefits
An Expensive and Risky Benefit
How Low Interest Rates Cost New York City Taxpayers $1.2 Billion Annually
October 05, 2016
A unique feature of a tax deferred compensation plan available to NYC teachers guarantees them a 7% investment return regardless of what happens to interest rates or in the stock market.
Report
State Budget
Predicting the Peak, Preparing for the Trough
An Examination of the Impact of a Possible Recession on New York State
June 20, 2016
The impact of a possible recession could be as high as $59 billion, or 18.2 percent of tax revenues over four years.
Blog
Housing
Agency Focus: NYC Housing Preservation and Development
July 18, 2016
The New York City Department of Housing Preservation and Development is the nation's largest municipal housing agency, and is charged with implementing the largest housing plan in the city's history. How's it doing?
Letter
State Budget
Recommendations on the FY 2017 Executive Budget
February 25, 2016
CBC offers recommendations for legislative action on the Governor’s Executive Budget for fiscal year 2017. The recommendations cover four proposals that deserve support, five proposals that should be modified, and four proposals that should be rejected.
Report
Pensions & Benefits
Six-Figure Civil Servants
Average Compensation Cost Of New York City Public Employees
January 08, 2009
In fiscal year 2008, the average compensation cost per New York City full-time employee was $106,743; this figure represents a system out of sync with the private sector and an opportunity to limit the growth of the City’s liability in the future while continuing to provide fair and adequate compensation to the City’s employees. Three factors that have driven the growth in compensation among City employees are: 1) Pay increases are directly attributable to contract settlements with unions; 2) More generous terms of the health insurance benefits offered by the City, as compared to the private sector and other state and local governments; and 3) The benefit retirement plans offered by the City that lock in the City’s future payouts to retirees based on the employee’s pay, years of employment and age at retirement among other factors. CBC offers three recommendations in response to these factors.
Blog
Pensions & Benefits
2016 Benefit Sweetener Scorecard
May 02, 2016
The Citizens Budget Commission’s 2016 Benefit Sweetener Scorecard identifies more than 60 such bills active this session. These bills could cost the State and local governments hundreds of millions of dollars per year, and since about half the bills do not specify a fiscal impact, the potential costs could be significantly greater.
Testimony
State Budget
Testimony on Improving the State Budgetary Process
Delivered to the Select Committee on Budget and Tax Reform
December 17, 2009
In this testimony the CBC assesses the effectiveness of provisions in the New York State Budget Reform Act of 2007 and makes additional recommendations for improving transparency, forecasting, and flexibility.
Report
Economic Development
New York City's Competitiveness in Attracting Talent
2016 Scorecard
September 28, 2016
How does the New York City metro area compare to other large cities in the competition for a talented workforce? Affordability and commute times remain challenges.
Report
Economic Development
Increasing Without Evidence
NYS Economic Development Spending Update
September 26, 2016
This report tracks growth in NYS' economic development programs between 2010 and 2014. Little progress has been made on improving transparency and demonstrating effectiveness.
Blog
City Budget
The “20-20-20-20” Dilemma: Legacy Costs in the New York City Budget
July 22, 2016
A giant slice of the New York City budget pays for costs that are the legacy of commitments made in the past: debt service, pensions, and retiree health insurance. These legacy costs 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.
Letter
State Budget
10 Do's and Don'ts for Spending the Federal Stimulus Funds
February 25, 2009
This letter to the Legislature warns that the federal aid to New York is limited and temporary, suggests ten do’s and don’ts for using the federal funds and closing the budget gap while avoiding harmful cuts and tax increases, and highlights possible allocation of the funds.
Testimony
Energy & Environment
Testimony on NY Power Authority Economic Development Programs
Delivered to a Joint Session of State Committees
September 23, 2009
A testimony before a number of State Senate and Assembly committees which reviews the findings of a recent CBC report on the efficacy of NYPA's economic development programs.
Testimony
Pensions & Benefits
Testimony on Health Care Savings Under Recent Collective Bargaining Agreements
Delivered to NYC Council Committees on Finance and Civil Service
February 26, 2016
CBC has been monitoring New York City's efforts to find health savings. CBC has long advocated negotiating changes to health insurance as part of collective bargaining and applauded the labor-management agreement that committed to meet annual savings targets.
Testimony
Economic Development
Testimony on Regular Evaluation of Tax Expenditures
Submitted to the New York City Council Committee on Finance
September 22, 2016
The impact of tax expenditures should be regularly assessed to determine whether they are inducing behavior or subsidizing activity that would happen anyway.
Blog
Pensions & Benefits
Legislature Introduces Even More Benefit Sweeteners
May 18, 2016
The State Legislature has introduced 8 new bills to enhance the benefits of State and local public employees and retirees in the 2016 session.
Report
Energy & Environment
Can We Have Our Cake and Compost It Too?
An Analysis of Organic Waste Diversion in New York City
February 02, 2016
This report examines the feasibility and the cost of options for expanding the Department of Sanitation's organic waste program.
Blog
State Budget
Pass Governor’s Proposal to Reform State Retiree Health Insurance Benefits
March 13, 2016
State of New York retirees with more than 10 years of service receive health insurance benefits substantially more generous than those offered by private sector and most public sector employers. Governor Andrew Cuomo’s Executive Budget for FY2017 includes a fair proposal to reduce these growing costs, and the Legislature should adopt it.
Letter
State Budget
Recommendations for FY 2009-2010 State Budget
February 02, 2009
This letter to the state legislature suggests two strategic directions to guide budget policy and offers a roadmap that avoids harmful tax increases and makes spending better serve New Yorkers by suggesting reforms in five key areas: Medicaid, school aid, correctional facilities, public employee benefits, and programs like STAR and Empire Zones.
Testimony
Taxes
Testimony on NY State Tax System
Delivered to the Senate Committee on Budget and Tax Reform
March 12, 2009
This testimony emphasizes two key points about New York’s personal income tax (PIT) and offers a framework for thinking about tax reform in the current fiscal context: 1) New York’s PIT is progressive, but its overall tax structure is not; and 2) New York’s economic competitiveness should be an important factor in considering changes to its tax rates.