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
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In the wake of the attack on the World Trade Center, New York City faces a budget gap of at least $3.6 billion. As a result, Michael Bloomberg will confront the city’s most serious financial crisis in a decade. Read More
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
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
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
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
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
In the weeks leading up to the original September 11th primary date, the mayoral candidates would occasionally acknowledge that their plans might have to change if New York City encountered a full-blown recession. Read More