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
Month: July 2001
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
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
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
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
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
The new federal tax law is good news for New York, which bears a disproportionately heavy share of the federal tax burden. But while it rests on a solid foundation of broad-based tax relief very similar to what President George W. Bush proposed, the tax cut bill enacted by Congress left a tangle of loose ends. Read More
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
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