Governor Cuomo has kept his perfect record of consistently ignoring the statutory deadline for issuing a mid-year financial plan update. Read More
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Is the city’s biggest bank getting ready to flee? That worrisome question flared up this week following a Bloomberg News report that JPMorgan Chase & Co. — the largest private employer still based in the city — may move thousands of jobs from New York to its other outposts, including in Texas, Ohio and Delaware. In fact, although the bank itself didn’t officially comment, it seems clear the reality is not so dire. JPMorgan isn’t abandoning its ancestral home — not yet, anyway. Read More
The board of the New York State Teacher Retirement System this week voted to reduce the pension plan's assumed rate of return on investments from 7.25 percent to 7.10 percent, which is (a) a step in the right direction, and (b) still unrealistically high. The new projected return assumption, used as the discount rate for calculating and funding long-term teacher pension liabilities, matches NYSTRS' actual return on investments during the fiscal year ended June 30, which fell 0.15 percent short of the previous target. Read More
A Cuomo administration analysis of its own Medicaid rate hike last fall appeared to show a disproportionate benefit for hospitals associated with the politically influential labor union 1199SEIU. Read More
NY's Excelsior Scholarship program is crudely designed, regressive and wasteful. Read More
NY's Excelsior Scholarship program is regressive and wasteful Read More
The long-term cost of subsidies for New York’s new offshore wind turbine projects could exceed $6 billion—or three times the amount acknowledged by Governor Andrew Cuomo’s energy agency. Read More
Upstate electricity customers could shell out more than $1 billion to cover the state’s initial round of subsidies for offshore wind turbines, the Cuomo administration’s energy agency has now revealed. Read More