The past year has taught a painful lesson about the importance of public health defenses, not just in terms of preventing sickness and death, but also preserving our economy and way of life. Read More
In economic terms, the coronavirus pandemic has been the most disruptive event to hit New York and the nation since the Great Depression in the early 1930s. While New Yorkers hope to resume to some semblance of normal life by summer, the fiscal hangover for the state and its local governments will linger for years. Read More
New York spends more per student on education than any state or country. According to the most recent national and international spending estimates, New York would retain that status even after cutting state funding to schools by 20 percent. Read More
The 11 proposals, summarized in the table below, were submitted to Governor Cuomo’s Medicaid Redesign Team at a public comment forum on Friday at the Albany Capital Center. The Medicaid Redesign Team, appointed Feb. 4, is tasked with finding $2.5 billion in Medicaid savings to balance the state budget due April 1. Consistent with Cuomo’s guidelines, Hammond’s proposals would have no impact on current beneficiaries or local governments. Read More
The main thing wrong with Governor Cuomo’s Medicaid budget is that it barely exists. His executive budget proposes to reduce funding for the state’s biggest and most important program by 10 percent, or $2.5 billion, but omits any plan for making that happen. Instead, the governor is delegating details to a panel of industry insiders who haven’t yet been named and don’t have a clear deadline. Read More
The state’s current fiscal challenge is caused by excess spending, not insufficient taxes. The governor’s projection of PIT receipts—which apparently have recovered from the post-tax reform disruption in the final quarter of fiscal 2019—assumes a steady continuing uptick in revenues across the next four years, despite the continuing phase-in of significant “middle class” income tax cuts through 2025. But this could prove overly optimistic. Read More
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