The state's general pension fund was recently valued at a record $180.7 billion. Some, though, cautioned about future costs. "The state pension system remains a ticking time bomb," the Empire Center's E.J. McMahon wrote in his group's blog, NY Torch. Read More
E.J. McMahon, president of the Empire Center, a fiscally conservative think tank, criticized the new law, particularly since it allows union officials to earn pensions through both systems at the same time. Read More
Indeed, since 2000, we’ve lost 2 million people to other states, the Empire Center notes. Businesses, too, find it difficult to operate here: Upstate New York long ago became an economic wasteland. The fact that our taxes are the highest in the nation plays a key role in fueling the exodus. Read More
“If they put a significant amount into recurring expenditures, you’re increasing permanent spending commitments without having the money to fund them,” said E.J. McMahon, of the conservative-leaning Empire Center for New York State Policy. He said the state would be better off using the bulk of the windfall on one-time expenditures, such as mass transit and upstate transportation projects. Read More
E.J. McMahon joined John Gambling to discuss New York City's decision to pay an extra $42 million to school bus drivers. Read More
E.J. McMahon joined Fred Dicker to discuss New York's public-sector pension funds. Read More
The Empire Center analyzed reports filed on line by the legislature, and found that the state Assembly paid over $650,000 to outside attorneys, while the State Senate gave a private law firm over $400,000 between October of 2013 and March of 2014. Read More
The bond proposal does have its skeptics, like EJ McMahon of the Empire Center, who notes Cuomo made the proposal as a way to shore up his education agenda in his State of the State, and questioned whether the borrowing plan was prudent given the amount of money already spent on technology and infrastructure. Read More