"...a group that has such a long and distinguished record in identifying and addressing crucial issues affecting the governments of the city and state of New York." Federal Reserve Chairman Ben S. Bernanke
CBC released a letter that was sent to the New York State Legislature containing “10 Do’s and Don’ts” for spending the estimated $4.8 billion in federal stimulus funds allocated to New York State for use in budget relief in fiscal year 2009-10. The letter briefly outlines the 10 rules and cautions that the funds need to be wisely spent over the next two years.
This letter by CBC President Carol Kellermann to the State Legislature suggests two strategic directions to guide budget policy in FY2009-2010 and offers a roadmap to help steer a course that avoids harmful tax increases and makes spending better serve New Yorkers by offering reforms in five key areas: Medicaid, school aid, correctional facilities, public employee benefits, and programs like ST
CBC Deputy Research Director Elizabeth Lynam testifies to a Joint Hearing of the Senate Committee on Local Government and the Assembly Committee on Real Property Taxation. To fund more appropriate taxpayer relief mechanisms the Middle Class STAR program should be replaced with an improved circuit breaker.
CBC supports the recommendations of the Local Property Tax Relief Commission. Local property taxes in New York State are far too high, and the State needs to stop forcing costs onto local communities that can no longer afford them. High local taxes are in part driven by an undue burden placed on municipalities by the State.
CBC releases a letter to New York State legislators recommending five changes to Governor Eliot Spitzer’s Executive Budget that would make it better suited to the current, uncertain, economic times, as well as more effective in using precious tax resources to support essential public services, and more supportive of lowered local tax burdens.
CBC recently looked at the option of expanding New York’s existing circuit breaker program to provide targeted relief to the neediest taxpayers as background for a forum on local tax relief convened on December 6, 2007.
This testimony addresses issues surrounding taxes on New York residents, who bear the second highest state and local tax burden in the nation. Over the past decade, state policy successfully lowered the state tax burden and brought state taxes in line with national averages; however, the same is not true for local taxes.