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Blog
Taxes
Pied-à-Terre Tax
Appealing but Problematic
March 13, 2019
The 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.
Press Mention
City Budget
Charter Revision Commission Hears Expert Testimony on City Budgeting and Contracting
Gotham Gazette
March 13, 2019
The 2019 Charter Revision Commission, which is looking at ways to improve the city’s central governing document, heard suggestions on Monday from community-based organizations, fiscal watchdogs, and former and current city officials about potential changes to the city’s byzantine budgeting process.Over the course of more than three hours, experts weighed in on the city’s flawed contract procurement system, the severe lack of transparency in spending on capital projects, the possibility of creating a rainy day fund for the city, and measures to generally improve accountability in city spending. There was general agreement that city procurement needs to be overhauled to make it more efficient and transparent, but broader opposition to changes in the budgeting process and the administration’s ability to set revenues and expenditures.
Testimony
City Budget
Testimony on Charter-Defined Budget and Management Practices
Testimony Before the 2019 Charter Revision Commission
March 11, 2019
While 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
PEGging It Right
Guidelines for the PEG Process
March 05, 2019
For 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.
Blog
City Budget
NYC Revenues in a Recession
Quantifying the Potential Shortfall
February 26, 2019
The 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
9 Things New Yorkers Should Know About How New York City Buys Stuff
February 21, 2019
CBC'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
CBC Recommends Five Principles for Congestion Pricing
February 13, 2019
The CBC today released its five key principles for crafting an effective congestion pricing program.
Testimony
Capital Spending
Testimony on Intro. No. 113
For an Online Database of Pending Construction Projects
February 12, 2019
Intro. 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
The Mayor Called on NYC Agencies to Cut Their Budgets, But is the City Saving Enough?
NY1 Inside City Hall
February 08, 2019
CBC 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
Statement on NYC Preliminary Budget FY 2020
February 07, 2019
In 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
Sound Strategy, Sound Future
Recommended Approach for the City’s Preliminary FY 2020 Budget
February 01, 2019
A 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:
Blog
City Budget
Why the Latest PEG Is Not Likely to Be the Last in NYC's Budget
December 05, 2012
This blog explains why a savings plan, known as the "PEG" is necessary in the Nov 2013 NYC budget modification, examines the savings, and offers broader perspective on the city's fiscal challenges.
Video
Health Care
Dr. Alan Aviles, HHC President & CEO
CBC Breakfast Series
October 17, 2012
CBC Breakfast with HHC President and CEO Dr. Ram Raju in October 2012.
Blog
State Budget
How Sick Leave Can Be Bad for a Locality's Fiscal Health
(And Health Insurance May Be Even Worse)
July 01, 2012
“Excusable” borrowing appears now to be growing, extending to accrued sick leave and vacation days that are claimed by departing employees without money having been set aside to pay for them.
Video
City Budget
City Council Releases Member Items List
NY1
June 29, 2012
The City Council released its list of member items on Wednesday, which is a tiny slice of the budget but always sparks controversy.
Video
City Budget
Budget Breakdown Budget Process Could Be Discussion Topic In Mayor’s Race
NY1
June 26, 2012
The 2013 mayor's race is just starting to take shape. While the burgeoning field is busy staking out positions on the NYPD's stop-and-frisk policy and Mayor Bloomberg's push to ban the sale of large sugary drinks, it is possible that a debate over a decidedly more wonky issue - how the city crafts its annual budget - will surface among the candidates.
Blog
City Budget
Restoring City Priorities Along With Spending Cuts
June 21, 2012
The Mayor and City Council's “budget dance” focuses largely on child care slots and after-school programs, but should really be about the City’s overly generous contributions to the health insurance of former City employees and their spouses.
Video
City Budget
Budget Breakdown: Differing Budget Projections Based On Complex Revenue Forecasts
NY1
June 13, 2012
For the past five years, City Hall has cut from the budget because it says it can't afford those programs. Those cuts are based on complicated revenue forecasts done by City Hall and others.
Video
City Budget
CBC President Carol Kellermann Debates City Budget
NY1
June 11, 2012
CBC President Carol Kellermann debate current City budget negotiations with James Parrot, Deputy Executive Director and Chief Economist of the Fiscal Policy Institute on NY1's Inside City Hall.
Testimony
City Budget
Testimony on the NYC Executive Budget for FY2013
To NY City Council Committee on Finance
June 06, 2012
First, the Council should focus on structural changes to municipal finances that will make budgeting easier in future years. Second, the Council should phase out the unusual practice of reimbursing retired municipal workers for their Medicare Part B premiums.