Federal Tax Reform is Shaking Up New York’s Finances, but Flow of Bank Settlement Money is Bailing Out the State Budget
The Federal tax law overhaul that took place at the end of 2017 capped state and local income and propertyContinue Reading
Category: State Budget
Despite the Need, Gaining More State Support for Affordable Housing Remains a Major Political Challenge for the De Blasio Administration
Right now, New York City’s government should be taking advantage of the Democratic majority in both houses of the NewContinue Reading
What’s Missing from the Big New Voting and Campaign Reforms in New York ? Public Financing of Elections
The New York State Legislature, Governor Cuomo, reformers, advocates, and plenty of ordinary citizens are justly celebrating the passage andContinue Reading
MTA Deficit 2021- $800 million- Congestion Pricing Revenue 2021 will be $ 1 billion if passed
Congestion pricing is an essential step to keep the MTA’s operations and capital plans for construction, new signals and track,Continue Reading
The City’s Economy and Its Residents are Generating an Increasingly Large Share of the State Government’s Resources
New York City and its economy have been growing at an extraordinary pace in recent years. It is quite clearContinue Reading
STATE BUDGET DOES HELP MASS TRANSIT, BUT MTA CAPITAL PLAN UNCERTAINTY RISING
The MTA received two significant infusions of new money in the State Budget adopted effective this April 1st. The firstContinue Reading
STATE BUDGET MASS TRANSIT UPDATE: NEGOTIATIONS BEGIN AS DEADLINE DRAWS NEAR; S & P CUT MTA BOND RATING
With the New York State budget deadline of April 1 fast approaching, the Assembly, Senate, and the Governor are nowContinue Reading
EDUCATION AID AND TAX CUTS
The New York State budget approved this April provided the lowest funding increase for public schools in the last fiveContinue Reading
Housing and Hardball Politics
The adopted State budget includes a $2.5 billion appropriation for new affordable housing, with $1 billion for supportive housing. TheContinue Reading
The top priority in the State budget this year is the renewal of the multimillionaires’ tax.
Failure to renew the tax, which expires Dec.31 of this year, will result in a $3.3 billion revenue loss toContinue Reading