NYC budget

Testimony: NYC School Bus Industry in the Aftermath of the Removal of Employee Protection Provisions from Contracts

March 27, 2014. James Parrott testified at a New York City Council oversight hearing looking at the effects of removing job security protections from the City school bus contracts. The previous administration set in motion a contract re-bidding process that stripped school bus drivers, matrons and mechanics of job security protections. That action has already led to the bankruptcy of a large school bus company in the middle of the school year and threatens to further unsettle the industry… (read more)

Briefing on Mayor deBlasio’s Preliminary FY 2015 NYC Budget: Initial Progressive Steps, More to Come

March 11, 2014. In his review of NYC Mayor Bill deBlasio’s first budget, FPI’s James Parrott notes the new mayor’s progressive change in direction compared to prior City budgets. Not surprisingly, the major new initiative included in the Preliminary FY 2015 budget is full funding for the UPK/afterschool proposal scheduled for launch in the fall of 2014.

The briefing summarizes trends in state and federal aid, and analyzes projections for tax revenue growth. Parrott describes the municipal labor contract… (read more)

Beyond Balance: Forward-Looking Budget Priorities for New York City

July 9, 2013. All three of New York City’s citywide elected offices will have new faces in 2014. Mayor Michael Bloomberg cannot run for re-election because of the city’s term limits law, while Public Advocate Bill de Blasio and Comptroller John Liu are both running for Mayor rather than seeking re-election to their current offices. As voters consider a large field of mayoral candidates, as well as contenders for the other two citywide offices, the five borough presidencies and… (read more)

Briefing on Mayor Bloomberg’s Preliminary FY 2014 NYC Budget, and a Forward-Looking Budget Agenda

March 5, 2013. Part I of the budget briefing on Mayor Bloomberg’s Preliminary FY 2014 NYC Budget makes the following points:

  1. Unemployment remains very high in this historically weak “recovery.” NYC job growth better than the U.S., but considerable hardships persist.
  2. NYC tax revenues have rebounded, but federal and state aid share declined.
  3. State budget choices and pressures continue to squeeze NYC.
  4. City-funded expenditures projected to increase 3.4% in FY 2014, with increases in debt service and health

(read more)

Impact of the New York City FY 2013 Executive Budget Proposal on Women, Children and Families

June 18, 2012. This report prepared for the New York Women’s Foundation shows that the budget cuts proposed in the Mayors Executive Budget fail to respond to heightened needs and jeopardize the outlook for economic improvement and security for many low-income women and their families. The proposed cuts and funding shortfalls increase the risk of poverty in two ways: by destabilizing those already struggling, and by reducing opportunities to move out of poverty. Reducing the reliance on spending cuts… (read more)

Briefing on Mayor Bloomberg’s Preliminary FY 2013 New York City Budget

March 6, 2012. Unemployment remains very high in this historically weak “recovery” in NYC, as across the country, and considerable hardships persist. In addition, NYS budget choices and pressures continue to squeeze NYC. The Mayor’s budget can only be described as austere: although needs have grown in the wake of the recession, NYC spending on human services funding has fallen by 10 percent. Income concentration has resumed, underscoring the need for progressive tax reform. NYC’s business tax expenditures have risen… (read more)

Budget Busters

September 18, 2011. A letter by James Parrott, New York Post.

Budget Cuts Could Strangle Sputtering Recovery

June 20, 2011. An article by James Parrott, FPI’s deputy director and chief economist, who writes regularly for Gotham Gazette’s Economy section.

Testimony at the New York City Council Committee on Finance Hearing on the FY 2012 Executive Budget

June 6, 2011. FPI’s James A. Parrott delivered testimony detailing the following points: Against the backdrop of an outlook for a very gradual and drawn-out recovery during which unemployment and economic adversity remain elevated, the Mayor’s Executive Budget proposal contains several harmful budget cuts that will curtail vital services in many critical areas. The City needs a more balanced approach to closing large budget gaps; this approach should reduce outlays on contracting out and find ways to enhance revenues.… (read more)

Briefing on Mayor Bloomberg’s Preliminary FY 2012 New York City Budget

March 2, 2011. Despite Wall Street’s rebound, unemployment and hardship continue; at best, recovery will be very gradual. The revenue rebound does not make up for declining federal and state aid, particularly in education. Human services are being cut, while recent tax changes worsen the regressivity of the City’s tax structure. The City should begin to address several tax inequities and strengthen its revenue base. Briefing >>