Work from E.J. McMahon

City Won’t Bleed From Bloomberg’s Ax by E.J. McMahon |  | Newsday

Overshadowed by his predecessor for most of an all-too-brief transition period, Michael Bloomberg has emerged into the mayoral spotlight with an impressive early show of fiscal leadership. [Read_more]

It’s the Spending by E.J. McMahon |  | New York Posts

One of first things Mayor Bloomberg needs to do is to disabuse himself of the notion that the city's budget gap is mainly "a revenue problem," as he put it soon after the election.

Yes, revenue projections have fallen sharply in the wake of the World Trade Center attack. But the city faced a budget gap even pre-9/11 - and the fundamental reason is spending. [Read_more]

Wrong Time for a Commuter Tax by E.J. McMahon |  | New York Posts

New York City's severe post-9/11 fiscal crunch has prompted fresh calls in some quarters for reinstating the city's commuter tax, which could generate as much as $500 million, to help close a projected budget gap of $3.5 billion. [Read_more]

Mike Must Bite Bullet On Income Tax Hike by E.J. McMahon |  | New York Daily News

Just before the attack on the World Trade Center, Mike Bloomberg said he couldn't "prudently promise" not to raise city taxes, "because you can't see the future." [Read_more]

Bush’s Tax Cut: The Best Boost for N.Y. by E.J. McMahon |  | New York Posts

Some members of New York's congressional delegation seem obsessed with worry that President Bush won't deliver every penny of the $20 billion in disaster relief he promised to the city in the wake of Sept. 11. [Read_more]

They Don’t Get It by E.J. McMahon |  | New York Posts

Will the next mayor restore New York's battered, post-9/11 economy? The candidates' recovery plans don't inspire much confidence.

Most of Mark Green's answers come out of the 1930s. And while Michael Bloomberg seems to have learned a few lessons from the '90s, he's still reluctant to embrace the most growth-oriented elements of the Giuliani philosophy. [Read_more]

City Power: Don’t Gamble on State Budget Fixes by E.J. McMahon |  | Newsday

New York State's decision to roll the dice on more Indian casinos, video gaming and Powerball is ultimately expected to pump another $1 billion into the state treasury annually, but the inevitable court challenge may delay that payoff for several years. In the meantime, the state clearly faces a very real downturn in its economy and revenues. [Read_more]

A Blast to N.Y.’s Budget by E.J. McMahon |  | New York Post

The horrific attack on the World Trade Center will deal a severe blow to New York's economy and government revenues for some time. In one day, the city was plunged into its worst fiscal crisis since 1990 - which, if mismanaged, may yet become as bad as the brush with bankruptcy in the mid-1970s. [Read_more]

Pataki Power Play: Gov Should Call Lawmakers’ Budget Bluff by E.J. McMahon |  | New York Posts

In their latest ploy to drag Gov. George Pataki to the budget bargaining table, New York state legislative leaders are preparing a baseline spending plan that pointedly excludes hundreds of millions of dollars for the governor's own pet programs. [Read_more]

Turning The Page by E.J. McMahon |  | New York Post

Giuliani took office declaring that city government was too big and taxes were too high. His first two budgets cut the headcount of city employees and reduced spending, setting the stage for both tax cuts and a series of surpluses. [Read_more]

Worse City Budget News Ahead by E.J. McMahon |  | New York Post

It’s official: According to Mayor Giuliani's latest fiscal plan, the next mayor will face a budget gap of $2.7 billion - which, if it actually materializes, will be $400 million more than the one Giuliani inherited from David Dinkins. [Read_more]

Rudy’s Tax Cuts Don’t Go Far Enough by E.J. McMahon |  | New York Post

When Mayor Giuliani formally unveils his eighth and final city budget today, advocates of more expansive city spending are sure to attack his proposed tax cuts. Ironically, Giuliani will be accused of cutting taxes too much - when, if anything, he hasn't cut them nearly enough. [Read_more]

A Risky Precedent by E.J. McMahon |  | New York Post

The best that can be said of New York City's just-negotiated tentative contract with its principal public-employee union, District Council 37, is that it will expire relatively soon, in June 2002. Meanwhile, the agreement sets a costly precedent at a time when the city's budget picture is dimming. [Read_more]

W.’s Gift to New York City by E.J. McMahon |  | City Journal

New York's top congressional Democrats have given President Bush's ambitious plan for an across-the board tax cut a chilly reception. Senator Hillary Clinton warned that it "could derail the nation's economy and give New Yorkers higher interest rates and more unemployment." [Read_more]

A Risky Debt ‘Reform’ by E.J. McMahon |  | New York Post

In his budget message last month, Gov. Pataki called for constitutional reforms to control New York state's debt and ban non-voter-approved "back-door borrowing." But at the same time he quietly proposed a new form of back-door debt -- potentially the most significant change in the state's borrowing practices in decades. [Read_more]

The Blunders of ’66 by E.J. McMahon |  | New York Post

Thirty-five years ago this week, New Yorkers awoke on a cold New Year's Day to find the city's bus and subway system at a standstill. The costly, two-week transit strike, which began the morning John V. Lindsay took office as mayor, inevitably was recalled among the low points of his tenure when he died last month. [Read_more]

A ‘Ladder’ to Sky-High School Taxes by E.J. McMahon |  | New York Post

The New York State Board of Regents this month celebrated the season of giving by calling on Gov. Pataki and the Legislature to giftwrap another $1.45 billion in state aid to public schools next year -- an 11 percent hike on top of this year's record $1.16 billion increase, which brought total school aid to $13.6 billion. [Read_more]

What Bush Should Have Said About Tax Cuts by E.J. McMahon |  | The Wall Street Journal

The question posed by Lisa Key near the end of Tuesday night's presidential campaign debate amounted to a high, hard one for Al Gore and a slow, hanging curve ball right down the middle of the plate for George W. Bush. Mr. Gore twisted and ducked; Mr. Bush checked his swing and fouled it into the dirt. [Read_more]

Rick, Hill & Tax Cuts For NY | New York Post

Both Rick Lazio and Hillary Clinton have made a special effort to paint themselves as tax cutters--but they're not equally deserving of the title. [Read_more]

Al’s Middle-Class Tax Targets by E.J. McMahon |  | New York Post

Here's a conundrum: New York metro-region voters, who stand to lose the most if Al Gore becomes president, are among those most eager for the vice president to step into the top job.

Gore enjoys some of his strongest support in New York, New Jersey and Connecticut. [Read_more]

Bizarre Tax-Cut Presentations Don’t Add Up by E.J. McMahon |  | New York Post

AL Gore: $500 billion in tax cuts. George W. Bush: $1.3 trillion. Hillary Clinton: $496 billion. Rick Lazio: $776 billion to more than $1 trillion, depending on whom you believe and how you count. [Read_more]

NYC Jobs In Jeopardy by E.J. McMahon |  | New York Post

Saddled with yet another high-priced mandate from Albany, Mayor Giuliani and the City Council are rethinking their tax-cutting agenda. But curtailing tax cuts now would represent a step backward from policies that have contributed to the city's strongest private-sector employment growth in a half century. [Read_more]

The Taxpayer: Last Again by E.J. McMahon |  | New York Post

Amid the generally sunny reviews surrounding this year's session of the New York state Legislature, there was little for taxpayers to applaud--and plenty to be concerned about for the future. [Read_more]
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