A temporary freeze on scheduled pay hikes for state government employees (apparently) will continue through September while Governor Cuomo continues to count on aid from Washington to cope with the pandemic-induced economic and fiscal crisis. But the governor's administrative deferral of pay hikes still falls well short of what the governor can and should propose to save money and minimize layoffs. Read More
A federal appellate court has upheld a state-imposed freeze on pay increases for Nassau County employees—reaffirming the Legislature’s power to grant similar much-needed budgetary relief to every level of government in New York to help deal with the severe post-pandemic fiscal crisis. Read More
Personal income growth in New York nearly flatlined in the first quarter of this year, reflecting the start of the economic shutdown triggered by the coronavirus crisis, according to data released today by the federal Bureau of Economic Analysis (BEA). Read More
Unlike its rapidly improving COVID-19 case numbers, New York's economic recovery began at a painfully slow rate during the normally buoyant month of May. Read More
The health insurance industry's rate applications for 2021, posted this month by state officials, reveal deep uncertainty about the long-term impact of the coronavirus pandemic on medical costs. Read More
The pandemic-driven decline in sales tax revenues accelerated in May, when the local share statewide was down 32 percent from last year's levels, the state comptroller's office reported today. Read More
While Governor Cuomo crawls further out on a fiscal limb, delaying threatened budget cuts in hopes of landing more federal aid, New York State is wrapping up its biggest short-term spring borrowing in 30 years. Read More
New York City’s police department has come under criticism in recent days, with some city officials saying NYPD funding should be reduced. But many of the same New York City Council members parroting calls to “defund” the NYPD were just a year ago pushing Mayor Bill de Blasio to give city cops a big pay hike. It’s a reminder that New York’s elected officials, no matter how principled, routinely don’t want to say “no” to public-sector unions. Read More