With the coronavirus lockdown continuing to erode tax revenues, Gov. Andrew Cuomo has turned up the volume on his demands for a federal bailout of the New York state budget. In a weekend briefing, the governor repeated his estimate that the Empire State will need help closing a deficit of $10 billion to $15 billion. “I don’t have any funding to do what I normally do,” he said. Read More
The coronavirus pandemic has just claimed its first big institutional victim: the New York state Legislature, which handed Gov. Andrew Cuomo broad and unprecedented leeway to cut state spending in the fiscal year that began Wednesday. Read More
In the predictably messy $2 trillion coronavirus response bill approved by Congress on Friday, one provision stands out as a particular travesty: the nonsensical way it distributes public health funding to the states. Read More
#NYCoronavirus: What he had stumbled onto was one of Albany’s dirtiest little secrets — an addiction to taxing health care, which has gotten steadily worse over the past quarter-century. And now there’s a danger that the coronavirus crisis will become an excuse for state lawmakers to hike the taxes and hit consumers even harder. Read More
There’s an obvious place to start in New York: Freeze state and local government employee pay. The combined estimated savings for every level of government could at least be a down payment on the massive reductions that will be necessary in the year ahead — and probably for years to come. Read More
With any luck, the coronavirus will be a fading memory by summer. But by then, massive (if temporary) damage will already have been done to the state and regional economies. The Empire State and its local governments, including Gotham, will have to confront a fiscal crisis as intense as the current public-health emergency. Read More
This week’s stock-market plunge amid mounting fears of a global economic slowdown triggered by the coronavirus couldn’t come at a more crucial time in New York state’s budget-making process. Read More
Virginia Democrats are poised to legalize collective bargaining for government employees. In November Democrats brought Richmond under their total control for the first time in more than a quarter-century. The new legislative majorities seem intent on ignoring the painful lessons of New York state’s half-century experiment with government unions. Read More
From a statewide perspective, New York’s economic performance since the end of the Great Recession hasn’t been especially outstanding, roughly equaling the U.S. averages for growth in private employment and GDP, while slightly trailing the national rate of increase in personal income since early 2009. But a closer look at the numbers reveals a tale of two New Yorks. Read More
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