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Statement
City Budget
Statement on the NYC Adopted Budget for Fiscal Year 2022
June 30, 2021
Despite fiscal year 2021 tax revenues being $2.1 billion more than previously expected and $15 billion in additional federal aid, the budget hamstrings the next Administration with sizable future budget gaps.
Letter
City Budget
Prominent Business & Civic Leaders Call For More Strategic Use of Federal Aid in City Budget
June 16, 2021
Fund allocations should prioritize sectors and communities most damaged during COVID-19.
Video
CBC News
Comptroller Candidate Forum
Accountability, Not Just Accounting
May 04, 2021
The next New York City Comptroller will play a critical role not only in holding the next Administration and agencies accountable, investing and managing five pension funds with $248 billion in assets, and partnering in $13 billion City debt issuance, but also in spotlighting and promoting New York City’s fiscal health during and after the economic recovery. CBC's "Comptroller Candidate Forum: Accountability, Not Just Accounting" featured 13-minute conversations with each of the six leading candidates, in succession, allowing candidates to share their vision for the office, answer targeted questions from CBC about how they will use the office’s powers, and identify positions on key issues in a lightning round.The video was lightly edited to remove technical glitches. The content of the conversation was preserved in its entirety.
Statement
City Budget
Statement on the NYC Executive Budget for Fiscal Year 2022
April 26, 2021
The Executive Budget for Fiscal Year 2022 includes some commendable components but essentially fails to leverage the historic opportunity enabled by federal aid, state education support, and higher tax revenue to both provide essential services now and stabilize the City’s fiscal future
Video
CBC News
A Special Conversation with Sarah E. Feinberg and Janno Lieber
March 30, 2021
Sarah Feinberg, New York City Transit Interim President. and Janno Lieber, Chief Development Officer of the MTA, joined the CBC for a special discussion on the challenges the MTA faced over the last year and what it continues to do to address those challenges.
Statement
State Budget
Statement on the Passage of the American Rescue Plan
March 10, 2021
The American Rescue Plan can be a game-changer for New York. It will provide much needed support for New Yorkers and our economy, including aid for those who are jobless, for many individuals and families, especially with children, for nonprofits and small businesses including restaurants and the arts, and more.
Statement
City Budget
CBC Statement on the NYC Preliminary Budget for FY2022
January 14, 2021
Citizens Budget Commission (CBC) President Andrew S. Rein released this statement on the New York City Preliminary Budget for Fiscal Year 2022:
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.
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.
Statement
City Budget
CBC Statement on the NYC Adopted Budget for FY2021
June 30, 2020
New York City leaders may be breathing a sigh of relief for meeting the budget deadline after particularly arduous negotiations, but the fiscal crisis is far from over.
Letter
City Budget
CBC Urges Governor to Approve RDF Bill with Chapter Amendment
A Letter to the Governor
June 05, 2020
CBC has championed the creation of a well-designed RDF for NYC; however, this bill should not become law as currently drafted.
Video
CBC News
Sages of the Ages
Lessons from Past Fiscal Crises and Perspectives on the Present
June 02, 2020
CBC hosted a special panel discussion of prominent fiscal experts who helped New York overcome some of the most dire crises of the past. They provided insights and lessons from past experiences to help us understand and navigate the looming crisis.
Letter
State Budget
CBC Strongly Urges Amendment of Rainy Day Fund Bill
A Letter to State Legislative Leaders
May 26, 2020
CBC has championed the creation of a well-designed RDF for NYC; however, this bill fails to place essential restrictions on the use of the RDF, and should be amended to add those restrictions.
Letter
City Budget
CBC Urges State Legislative Leaders to Reject Borrowing Bill for NYC
May 26, 2020
The Legislature should reject the bill to permit NYC to issue long-term debt to pay for operating expense related to the COVID-19 pandemic.
Statement
City Budget
Statement on the NYC Fiscal Year 2021 Executive Budget
April 16, 2020
While the City is to be commended for balancing the budget without tax increases or borrowing, it has used a short-term strategy that leaves a significant gap in FY 2022.
Statement
City Budget
CBC Calls for Greater Savings to Address Looming NYC Budget Gap
March 24, 2020
Responding to the pandemic and the economic crisis it has triggered will have a significant impact on NYC’s finances in both the near and long term.
Statement
City Budget
Statement on the NYC Fiscal Year 2021 Preliminary Budget
January 16, 2020
The budget presented today holds the line on new spending programs. However, it misses the opportunity to further improve the City’s preparedness for looming risk.