Today is full of bad news for Wall Street. The New York Times reports that the street is moving mid-paying jobs to middle America, and S&P has a new report out saying that the i-banking business is moving to a "less profitable, but somewhat lower risk, business model." Read More
New York is probably less affected than most states by today’s U.S. Supreme Court decision. The court effectively has said that almost all of Affordable Care Act (ACA) passes constitutional muster. This means the entire country can now experience the effects of the sort of regulatory policies (such as guaranteed issue, community rating and mandated coverages) that have done much to make health insurance so costly here... Read More
The Campaign for Fiscal Equity (CFE) litigation of 1993-2006 established the principle that New York State is constitutionally obligated to ensure funding of a “sound, basic education” for pupils in New York City schools. Today, the state’s highest court cleared the way for a lawsuit claiming that funding levels for about a dozen of New York’s small city school districts doesn’t meet that requirement. Read More
How does Governor Cuomo intend to pay for a new Tappan Zee Bridge? Nicole Gelinas explores that question in an op-ed in today’s New York Post. Taking a closer look at cross-Hudson traffic trends, she suggests that higher bridge tolls alone aren’t unlikely to cover it. Read More
In a news conference just before yesterday’s legislative adjournment, Governor Andrew Cuomo announced that he would grant the required “messages of necessity” to pave the way for a vote on amended versions of two New York City bills — one related to condo-coop tax abatements, and the other to a measure implementing an important technical change in actuarial assumptions for the New York City pension funds. Read More
“Mandate relief remains elusive,” is one of the state-related headlines in today’s Albany Times Union — and that much, at least, is true. Unfortunately, the articlebeneath the headline repeats a familiar canard about the origins of the Triborough Amendment. Read More
As the clock ticks down towards Thursday’s adjournment of the state Legislature, Senate Republican leaders apparently are blocking a vote on a bill designed to ensure that the names of New York’s public pension recipients are (once again) unequivocally treated as public information. Read More
Nineteen school districts that attempted to override the tax cap in last month's school budget votes will present revised budgets to voters tomorrow. Nine of those districts are resubmitting budgets below the cap, seven have budgets at the cap and three districts will try again to override the cap. Read More
Perhaps the most consequential proposed legislation to fly almost completely under news media radar at the end of session has been a bipartisan bill that would amend and upgrade Kendra’s Law, which allows judges in certain situations to force people with serious mental illness to undergo treatment. Read More
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