Two late-breaking bills stand out among more than a half-dozen pension sweeteners passed by New York’s state Legislature during the final days of the 2014 session. One would restore a benefit cut by Gov. Cuomo's Tier 6 reform, and the other would vastly expand pension credit for time served in the military. Read More
In line with New York’s motto — “Excelsior” — the state assumes its tax receipts are headed ever upward. Late last week, Governor Cuomo and legislative leaders announced they had agreed to a consensus forecast adding $200 million to the combined receipts... Read More
Assembly Speaker Sheldon Silver may seek a pay hike for members of the New York State Legislature before the year is out, today’s New York Post reports. New York part-time lawmakers now make a base salary of $79,500 a year, plus $171 for every day in Albany and added stipends for leadership positions and committee chairmanships. Read More
Senate Republicans have issued a preliminary report laying out a series of state tax reform options and recommendations while also calling for a 2 percent cap on state spending to generate a “freedom fund” to pay for further tax reductions. Read More
Senate Republicans today unveiled some new proposed personal income tax (PIT) adjustments that would generate savings for middle-class families.* For a couple with income of $70,000 and two children under 17, the potential annual tax cut from the proposed Family Tax Relief Act would appear to come to roughly $700... Read More
Governor Cuomo’s proposal to cap arbitration awards for police and firefighters is not included in the Senate or Assembly budget bills. This may be blessing in disguise: as argued here, Cuomo’s original proposal didn’t go nearly far enough. Since the arbitration law expires on June 30, the governor remains in a commanding position to demand more. Read More
Don’t look now, but the Legislature is a step away from passing a straight four-year extension of the Taylor Law’s police and binding arbitration provision, which is due to sunset June 30. The Senate extender bill (sponsored by Martin Golden, R-Brooklyn) was reported out of the Civil Service and Pensions Committee last week and advanced to third reading on the floor calendar this week. Read More
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