Saturday’s New York Times reported that Governor Andrew Cuomo is “likely” to veto a bill allowing school districts to issue 15-year bonds to cover the same rising teacher pension costs that have been partially excluded from a newly enacted property tax cap.  However, the article contained no direct quotations from anyone in the governor’s office. It would be more reassuring if the governor himself had spoken out on this issue.

veto-400x272-2208989The pension bonding bill has cast a cloud on the cap, which was signed into law by the governor Friday night soon after it passed the Senate and Assembly, part of a package including renewed rent control laws and some mandate relief provisions. The cap gives New York taxpayers a potentially powerful new tool for imposing greater fiscal discipline on school districts, in particular. My op-ed in Saturday’s New York Post explains how and why the pension bond bill would make a mockery of this objective. The Post editorialized on the same subject, urging a veto.

About the Author

E.J. McMahon

Edmund J. McMahon is Empire Center's founder and a senior fellow.

Read more by E.J. McMahon

You may also like

How a Medicaid ‘Cut’ Could Lead to More Unionization of Home Care Aides

A money-saving maneuver in the newly enacted Medicaid budget could end up increasing costs in the long term – by paving the way for more unionization of the state's burgeoning home health workforce. Read More

Pols Craft More Handouts for Sinking Construction Unions

New York’s construction unions, facing a decades-long decline, are employing a time-honored tactic: getting state government to stop people from competing with them. Read More

Union Rallies Long Island Pols Against NYC Kids

New York’s statewide teachers union has been cashing in political chits as it seeks to block new charter schools from opening in New York City, asking the senators and assemblymembers Read More

Utility board turns into union tool

The idea that the PSC would artificially drive electricity costs higher to benefit a political constituency represents a new low. Read More

New Docs Raise Big Questions About NY’s Megafab Mega-Deal

The Hochul Administration published a pair of documents concerning the Micron Megafab deal that raise more questions than they answer. Read More

City union scandal isn’t NY’s first

One of New York City’s largest public-sector unions has been effectively taken over by its national parent after an audit revealed extensive financial mismanagement. It’s the latest example of misconduct made possible under New York’s public-sector collective bargaining rules that force the government to collect hundreds of millions of dollars annually without any safeguards on how the funds are spent.  Read More

Firefighter-rights bill torches local control

Two of Albany’s most-vetoed concepts are headed toward Governor Hochul’s desk, this time concealed as a “firefighter bill of rights.”  Read More

Still-Unreleased Union Deal Rains Cash on State Workers

The still-unreleased deal between the Hochul Administration and the Civil Service Employees Association (CSEA), state government’s largest group of unionized workers, would award bonuses, backpay, and guaranteed raises the next three years, documents sent to union members show. Read More