"While Mayors, Governors, and other leaders come and go over time, CBC is an ever-present organization that presents a consistent and vital message that is so important for the state and the city." NYS Department of Financial Services Superintendent Ben Lawsky
LIRR's ranking for vehicle maintenance efficiency measures amonth the ten largest commuter rail systems, despite having the youngest average fleet age.
Director of State Studies Elizabeth Lynam makes two recommendations regarding the FY 2012-13 Executive Budget's economic development proposals. First, the legislature should not authorize additional funds for another round of regional competition until the “hydra” of economic development is tamed.
President Carol Kellermann pens an op-ed urging the legislature to pass Governor Cuomo's proposal to modernize the State's pension system by offering new employees a 401(k)-style option.
As 2012 begins and the New York State Legislature begins a new session, its first priority should be reform of the financing and benefits of pensions for state and local employees. Such reforms are urgently needed because (1) the relatively high cost of the current system places New York at a competitive disadvantage, and (2) these costs have been growing and are projected to continue growing, making a bad situation worse.
The CBC today released a policy brief titled “The First Priority in the New Year – Pension Reform.” It compiles the latest financial data on the rising cost of pension obligations of government entities in New York State, including New York City, other localities and the MTA, and, in doing so, underscores the case for comprehensive pension reform to alleviate financial burdens statewide.
As Governor Cuomo prepares his executive budget, he should seek structral changes that slow down the state's most potent cost-drivers (pensions, school aid and Medicaid), halt additional economic development spending and steer clear of budget tricks. Senior Research Associate Tammy Gamerman pens an op-ed for the New York Post.
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.
Printer-friendly version
