CBC President Carol Kellermann pens an op-ed congratulating the Governor and State Legislature on a productive session, but says more needs to be done on fiscal matters.
To help states cope with recessions one mechanism that is often suggested is a rainy day fund. Although New York has a rainy day fund (in fact, it has two), the funds have not been used in the latest recession. This report explores the reasons why New York has not developed an effective rainy day fund and presents four guidelines for how the State can create a more useful rainy day fund.
Gov. Andrew Cuomo and state legislative leaders deserve credit for agreeing on a budget that breaks some bad habits. It was on time, reins in spending that was growing at an unsustainable pace, and minimizes the facile devices that checkered past budgets—deficit borrowing, tax hikes, one shots and other gimmickry.
Gov. Andrew Cuomo's executive budget released last Tuesday was a welcome change. Breaking with past practice in Albany, he proposed closing the state's budget gap with $9 billion worth of serious belt-tightening.
CBC President Carol Kellermann explains how the State can cut spending equitably in the three largest areas of the budget: Medicaid, education, and employee benefits.
The CBC commends Legislators for moving to help counteract the mounting pressure on state and local budgets by putting a new and less costly benefit plan in place for new public employees.
This op-ed was the CBC's contribution to a series of short op-ed's submitted by advocates around the state to Crain's New York Business. Here the CBC strikes at the core issues that severely impact the State's budget.
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