The Empire Center’s Ken Girardin notes that this borrowing forces “future taxpayers to pick up the tab for politicians to win political points today.”
New York state and Gov. Andrew Cuomo continue to pick the pockets of hard-working taxpayers.
High-tax New York has just lost one of its oldest money-management firms to low-tax Nashville, Tennessee—highlighting an ongoing shift of Wall Street jobs, and of high earners in general.
When Gov. Andrew Cuomo recently signed a bill making it harder for government workers to escape labor unions, he said it was just “the first step of the resistance.”
Translation: It wasn’t the last favor Cuomo hopes to do for New York’s powerful public-sector unions in anticipation of the coming US Supreme Court decision in Janus v. AFSCME, which could void state laws compelling government workers to pay dues-like agency fees to unions they choose not to join.
"Number one, this money is not being used to fund public priorities. Number two, it's using borrowed money and forcing future taxpayers to pick up the tab for politicians to win political points today," said Ken Girardin, policy analyst at the right-leaning Empire Center for Public Policy.
When Governor Andrew Cuomo recently signed a bill making it harder for government workers to extricate themselves from labor unions, he said it was just “the first step of the resistance.” So, what will New York’s governor and lawmakers seek to do next for their public-sector union friends?
Governor Andrew Cuomo’s Clean Energy Standard has spurred much less of the new renewable energy generation than promised.
Cuomo has further boosted the state’s already heavy reliance on taxes paid by income millionaires. This has made Albany’s revenue base more fragile and volatile — a problem aggravated by the new federal cap on state and local tax deductions, which effectively raises total tax rates for New York’s highest earners.