New York has just enacted a pandemic-crisis budget that might as well have been written in disappearing ink—shakily “balanced” on hopes of a huge federal bailout and ultimately backstopped by the potential for unprecedented deficit borrowing.
#NYCoronaVirus: The Legislature isn't just delegating emergency spending control powers to Governor Cuomo as part of the new state budget. It's also handing him a deficit-financing credit card with an $11 billion limit.
#NYCoronaVirus: As New York State lawmakers debate the Medicaid budget during a public health crisis, here are seven things they should keep in mind.
#NYCoronaVirus: The coronavirus pandemic has just claimed its first big institutional victim: the New York State Legislature, which handed Governor Cuomo broad and unprecedented leeway to "adjust or reduce" state spending in the fiscal year that began today.
When it comes to responding to the coronavirus, New York is likely to struggle with a pre-existing condition: the Taylor Law.
Governor Andrew Cuomo has authority to suspend portions of the Taylor Law—and to preserve vital public services, he should.
Although New York is taking the brunt of the coronavirus pandemic – with 43 percent of the nation's known cases and 40 percent of the deaths – the state is due to receive only 5 percent of the $150 billion Coronavirus Relief Fund just established by Congress.
#NYCoronaVirus: The negative economic after-effects of the pandemic seem likely to rival if not exceed those of the Great Recession of 2008-09.
But as New Yorkers face massive job losses, falling incomes, sagging property values and widespread economic insecurity, they'll have one layer of protection they sorely lacked in the last downturn: a tight cap on local property tax levies, instigated by Governor Cuomo in 2011.
#NYCoronaVirus: The $2 trillion federal stimulus bill on its way to passage today does not actually shortchange New York in any general sense—but it does seem to clearly dash Governor Cuomo's vain hopes for a budget bailout, which is why he is so unhappy about it.
For a second consecutive year, New York’s population loss was mainly concentrated downstate, according to the latest Census Bureau estimates.
#NYCoronaVirus: With state revenues crashing and joblessness skyrocketing, more than a third of the New York state government workforce is scheduled to get a 2 percent pay raise in less than a week.
#NYCoronaVirus: While daily life has been disrupted, essential functions must go on amid the coronavirus crisis—including the budgeting process for the state’s nearly 700 school districts.
#NYCovidCrisis: As they make their now-routine announcements about new cases of coronavirus, some New York health officials have been publicizing the public places and events that the infected people visited, to put others on notice about their own possible exposure. This is a useful and no-cost strategy for flattening the curve that other agencies should follow.