A property tax cap hasn't even passed both houses yet (as of late Thursday), and already the state Senate has slipped through a bill that would allow school districts to circumvent it. The measure immediately was referred to the Assembly Ways & Read More
Tag: Public Finance
The Yonkers City School District will be allowed to bond out a portion of its rising pension contributions under a bill that seems greased for end-of-session passage by the Legislature. Sponsored by Sen. Jeff Klein and Assemblyman Michael Spano, t Read More
"Wall Street plans to get smaller this summer," the New York Times today. "Faced with weak markets and uncertainty over regulations, many of the biggest firms are preparing for deep cuts in jobs and other costs." This would have signif Read More
City Council Speaker Christine Quinn and the chairman of the Municipal Labor Committee, an umbrella group of labor unions, have the idea of tapping a union-controlled health care slush fund to prevent 4,100 scheduled scheduled teacher layoffs and 20 Read More
Although his proposed property tax cap will put pressure on counties, municipalities and schools to reduce their costs, Gov. Cuomo has punted the related issue of mandate relief to a "redesign team" comprised of stakeholders including representatives... Read More
City Comptroller John Liu was asked at a Crain's NY Breakfast last week whether he would favor shifting future municipal employees from a defined-benefit pension system to a 401(k)-style defined-contribution system. His reply, according to Crain's Insider... Read More
"Changes in the timing and structure of financial services sector compensation, which have resulted in lower than expected personal income tax [PIT] revenues" led to a $1 billion state PIT shortfall in January, which in turn has helped add $750 milli Read More
As part of the White House's $3.8 trillion 2011 , President Obama has proposed making the "Build America Bonds" program permanent. Build America Bonds have offered states and localities a quick fix since Washington created them in the stimulus packa Read More