Fitch Ratings, the smallest of the big three credit agencies, has cut the rating on the state-run Metropolitan Transportation Authority (MTA)'s $14.3 billion in debt that is backed by transportation revenues. Fitch dropped the rating from A+ to A. Read More
The state Department of Taxation and Finance has issued "" of New York's new tax cap. In addition, on a , the agency has posted its first-ever annual estimates of growth in assessed property value due to new construction for all New York counties a Read More
A new study by the Manhattan Institute’s Marcus Winters, confirming a wealth of other research, shows that the credentials valued under teacher contracts don’t equate to better teaching. Read More
New York has one of the nation's largest and highest-paid state and local government workforces, according to the latest data. Based on March 2010 payrolls, the average annual salary per full-time equivalent (FTE) employee of state and local gove Read More
Union membership in New York City remains the highest in the country but has declined in recent years, according to a new (but not yet publicly released) report from the City University's Murphy Institute. The report's main finding, as summarize Read More
The city's independent budget office (IBO) has released on New York's post-9/11 disaster and recovery spending. So who got the Liberty Bond money? As part of its $20.5 billion aid package, remember, Washington gave the city $1.2 billion to suppor Read More
The has just released a new index that takes a comprehensive approach to measuring just how powerful government unions are in each of the 50 states. Which state had the lowest ranking, denoting the most powerful Read More
The St. Lawrence County Board of Legislators is holding a on a proposal to override the state's new property tax cap as part of the county's budget. Although the tentative 2012 county budget is not due until Nov. 15, l suggest county officials are g Read More
Pension bills for New York's local governments and school districts will rise by a combined total of at least $359 million as a result of the rate increase by the state comptroller this week, based on the latest available salary data from the state Read More
New York's cities, already the most fiscally stressed class of local governments in the state, will be hit especially hard by the next wave of pension contribution increases yesterday by the state comptroller. That's because city payrolls tend to be Read More
Tax-funded employer contributions to the New York State and Local Retirement System will rise sharply in fiscal year 2013, state Comptroller Thomas DiNapoli today. The rate billed for members of the Employer Retirement System (ERS) will rise to near Read More
Reporting today on New York City's plan to lay off 780 school employees in October, an in The New York Times explains: "The layoffs are a direct consequence of budget cuts to schools, which have occurred in each of the last four years, forci Read More