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Statement
City Budget
Underbudgeting Still Clouds City’s Fiscal Picture, Even with Expanding Economy
April 24, 2024
While an expanding economy brightens the revenue outlook, low-balled expenditures still cloud the City’s fiscal picture.
Statement
State Budget
NYS Late Budget Fails to Reduce Structural Gap
$237B of Spending Approved without Providing Financial Plan Tables
April 20, 2024
Three weeks late, State lawmakers finally approved the budget and again have failed to publish basic financial plan tables that show New Yorkers essential details about how their money is being spent this year and the budget’s future impacts.
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.
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.
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.
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.
Statement
State Budget
Statement on Governor Hochul's 2024 State of the State Address
January 09, 2024
Governor Hochul rightly highlighted the importance of ensuring New York is attractive and affordable to businesses and residents and the need to protect New Yorkers from more tax increases.
Statement
City Budget
Statement on the NYC November 2020 Quarterly Modification to the Financial Plan for Fiscal Years 2021-2024
November 23, 2020
The City needs to close the $3.8 billion fiscal year 2022 budget gap in the Preliminary Budget for Fiscal Year 2022, due in January 2021.
Statement
Transportation
Statement on the MTA’s 2021 Final Proposed Budget and November Financial Plan for 2021-2024
November 18, 2020
Today’s financial plan update lays bare the MTA’s dire fiscal situation.
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.
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.
Op Ed
Energy & Environment
Align Our Fiscal Policies to Meet Our Climate Goals
September 25, 2020
The concurrent public health, economic and fiscal crises serve as stark reminders of the need to prepare for the future and potential risks.
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.
Statement
City Budget
No NYC Borrowing Authority without More Savings, Fiscal Stability Plan, and FCB
September 08, 2020
While New York City’s fiscal crisis is severe, it should not borrow now to balance the fiscal year 2021 budget.
Statement
Public Workforce
Statement on Borrowing vs. Layoffs in NYC Budget
September 02, 2020
The New York City budget adopted 64 days ago commits to $1 billion in recurring savings from negotiations with labor unions; however, to date apparently no savings have been agreed upon.
Statement
City Budget
CBC Statement on City’s Land Use Process
August 18, 2020
CBC is increasingly concerned that at times the City’s land use process serves as an impediment to proposals needed to spur growth.