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March 13, 2019The pied-à-terre tax is appealing politically because it is levied on wealthy people with means to pay and nonresidents who do not vote. Nevertheless, it is problematic for several reasons.
Testimony City Budget
March 11, 2019While many worthwhile ideas will be proposed, CBC believes the Commission should focus on and proposing only those changes essential to the Charter’s purpose
Blog City Budget
March 05, 2019For the first time since taking office, Mayor Bill de Blasio has announced plans to implement a Program to Eliminate the Gap (PEG), which requires agencies to generate savings through expense reductions or revenue enhancements. The de Blasio administration previously eschewed PEGs in favor of Citywide Savings Plans (CSPs); in contrast to the PEG, agency participation in the CSP was voluntary. Pursuing a PEG presents both a challenge and an opportunity. This blog proposes three guidelines for the process: 1) identify significantly more than $750 million in savings, 2) encourage recurring savings through efficiency, and 3) follow agencies’ leads.
Special Feature Public Workforce
March 04, 2019Track the City's total headcount growth back to fiscal year 2004 - shows growth by employee category and which agencies are projected to grow the most in the coming years.
Special Feature Capital Spending
March 04, 2019At the end of fiscal year 2018, New York City debt outstanding grew to $119 billion. As total debt has grown—by 75 percent since 2005—the forms of debt the City issues have also diversified. This growth affects the City budget in the form of higher debt service costs. For City-supported debt, debt service costs were slightly below 11 percent of tax revenues in fiscal year 2018.
Special Feature City Budget
March 04, 2019The Budget Navigator is an online tool that allows New Yorkers to be their own budget watchdogs. Users can examine New York State or City revenues and expenses to determine levels of funding in recent years, analyze trends, and see how that funding compares between departments and services.
Blog City Budget
February 26, 2019The potential shortfall from a recession comparable to the last two recessions could be substantial: between $15 billion and $20 billion below projections over three years.
Report City Budget
February 21, 2019CBC's new report outlines nine critical things New Yorkers should know about procurement and makes four recommendations that could generate savings for the City.
Press Release Transportation
February 13, 2019The CBC today released its five key principles for crafting an effective congestion pricing program.
Testimony Capital Spending
February 12, 2019Intro. No. 113 would require the City of New York to produce an online database of all pending construction projects that includes initial and current completion dates and costs.
Video City Budget
February 08, 2019CBC President Andrew Rein and IBO Director Ronnie Lowenstein joined Errol Louis on NY1 Inside City Hall to analyze the budget and explain if the city is saving enough for the next economic downturn.
Statement City Budget
February 07, 2019In this uncertain economic environment, Mayor Bill de Blasio is right to urge caution and has announced the first Program to Eliminate the Gap (PEG) of his administration to be implemented in the Executive Budget. But for now, the City of New York Preliminary Budget Fiscal Year 2020 shows modest restraint in spending growth.
Blog City Budget
February 01, 2019A thriving economy has allowed the City to increase spending by $20 billion since fiscal year 2014. The City should undertake a necessary course correction with this four-part strategy:
Op Ed Pensions & Benefits
December 20, 2009CBC President Carol Kellermann discusses a new survey from the CBC and the Partnership for New York City that reveals that municipal employee pension and health-insurance benefits are out of balance with the job market.
Report Pensions & Benefits
December 16, 2009The CBC and the Partnership for New York City surveyed large private firms in New York City to provide a basis for comparing the health insurance and pension benefits of private sector workers with those of municipal employees.
Op Ed City Budget
November 15, 2009CBC President Carol Kellermann outlines the fiscal priorities that need to be addressed by Mayor Michael Bloomberg in his third term in this op-ed published in the Huffington Post.
November 11, 2009The New York City teachers’ contract expired on October 31, 2009. A new agreement may be reached soon. As the City faces a $5 billion budget gap for the next fiscal year and key educational reforms remain unfinished, here are key questions parents and taxpayers should ask to judge whether the next contract is a good deal for them.
Video City Budget
July 16, 2009“The Buck Stops Here” - The 2009 Comptroller Candidate Debate.
June 23, 2009This report details nine important facts for the Legislature to keep in mind as rent laws are considered for modification. CBC believes they should be cautious about initiatives to extend the reach of rent regulation. Instead, state leaders should think more broadly about ways to better target assistance to lower income households and to allow the market to work in ways that better allocate housing and expand housing choices for all New Yorkers.
Letter City Budget
June 10, 2009This letter to the mayor, speaker, and chairman of the finance committee outlines four key elements of a new fiscal strategy that would address the structural imbalance in the City's budget due to the ongoing recession.