New York’s latest stab at pension reform, which created a new “tier” of slightly reduced benefits, was an enormous missed opportunity. While the plan shaved away a few of the most costly sweeteners added to pension benefits since the early 1990s, it preserved the basic defined benefit plan structure. This is the core of the problem: a huge and growing financial risk for current and future taxpayers. Read More
For the Empire State’s heavily burdened taxpayers, Andrew Cuomo’s campaign policy agenda holds one major cause for celebration: Now all of the leading major party candidates for governor endorse a meaningful cap on property-tax levies. Read More
Gov. Paterson has withdrawn his support from a proposal to raise $50 million in taxes from partners in New York-based hedge funds who live in other states. Read More
Did Gov. Paterson skillfully maneuver New York’s Legislature into adopting a tighter and more timely state budget than it was capable of producing on its own? Read More
After weeks of tumult and parliamentary maneuvering—including Gov. David Paterson's threat of a government shutdown that would bring "unimaginable chaos" and "anarchy in the streets"—New York finally has a state budget for the fiscal year that began April 1. Read More
Former Gov. Hugh L. Carey is the Harry Truman of New York state — a political figure who left office in disrepute, only to have his stature rise in later decades. Read More
Just when it looked like New York’s free-spending public schools were about to do some serious belt-tightening, along comes the US Senate this week to clear the way for another $26 billion “stimulus” dose, including $600 million for K-12 education in the Empire State. Read More
New York governors have the power they need to control spending. Is New York State ungovernable? Back in April, David Paterson seemed to think so. Read More