With Taxi Deal Blocked, the City’s Budget Is in Flux

June 17, 2012. An article by David W. Chen, New York Times.

James A. Parrott, the deputy director of the Fiscal Policy Institute, said that Mr. Bloomberg had good reason to assume that the medallion revenue would flow into city coffers, once Gov. Andrew M. Cuomo and lawmakers had agreed to authorize the sale. But Mr. Parrott accused the mayor of not looking hard enough at increasing revenue from the city’s highest earners — a step advocated by one possible mayoral candidate, John C. Liu, the city comptroller. That could raise $600 million to $1 billion annually, Mr. Parrott estimated.