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In response to the New York City's fiscal year 2008 Preliminary Budget, and in light of the City’s strong fiscal position, CBC releases a letter to Mayor Michael Bloomberg urging him to focus on the City's long-term priorities in his 2008 Executive Budget. Specifically, CBC makes recommendations to: 1) Revise municipal tax policy to promote the City’s economic competitiveness; and 2) Use surplus resources to improve the City’s long-term fiscal viability.