Earlier this afternoon, Mayor Bloomberg presented his updated budget proposal for next year, which starts in July. One thing that stands out, besides his request that Albany hike the city sales tax by half a percentage point: it's likely that over Read More
Union leaders, contractors and real estate developers are trying to reach a new "project labor agreement" (PLA) to cut costs on private construction projects in New York City. But while Mayor Blomberg is anxious to participate in a news conferen Read More
The Times offers that a couple hundred million dollars (at least) of for the state-run Metropolitan Transportation Authority through new bridge tolls and a payroll tax wouldn't actually be new revenue going to the MTA. It would be a ste Read More
Gotham Gazette has launched a new game: "." It presents almost infinite choices on how to cut city spending, as well as every politician's favorite proposed tax hike and how much money it could raise or not. The game is useful not only for the pure f Read More
Nicole is in today's New York Post with an highlighting the weaknesses of the "doomsday budget" unveiled last Friday by Mayor Bloomberg. Read More
Mayor Bloomberg announced his budget this afternoon for the fiscal year that starts in July. The mayor expects that a combination of federal stimulus, state funds, tax hikes, spending cuts, and labor givebacks will close a $4 billion budget gap tha Read More
NYU prof Thomas Philippon and U-VA Prof Ariell Reshef have written a tracing the trajectory of wages in the American financial sector over the last century. Not surprisingly, financial-industry wages broke away from the rest of the economy starting i Read More
The best fiscal news for New York in ages is that three and a half years ago, the city lost its bid to host the 2012 Olympics. This week, the UK, which won the bid, , because the private partners couldn't find financing for the "Olympic Village" a Read More