Budget Uncertainty

Federal government changes are creating uncertainty.

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Continued risk in revenue forecast

Continued risk in revenue forecasts

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The IBO talks trash…

The latest from their email list http://bit.ly/2od338y

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IBO: H+H

From IBO

FOCUS ON THE PRELIMINARY BUDGET: NYC Health + Hospitals still faces considerable fiscal hurdles, with more than $1 billion in hoped for federal and state aid still not approved and efforts lagging to shift more of the public hospital system’s health care to outpatient services. And the potential gutting of the federal Affordable Care Act would likely mean the city hospitals would be providing more unreimbursed care for  an increasing number of uninsured patients. Read more:  http://bit.ly/2mQnCHs

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IBO on housing preservation

FOCUS ON THE PRELIMINARY BUDGET: With the addition of more capital funding, the Department of Housing Preservation and Development is expanding its Our Space program to build housing for New Yorkers currently living in the city’s homeless shelters: http://bit.ly/2nrX1RJ

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Are Tax Incentives Transparent?

See this from Governing.

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The latest revenue report from Rockefeller Institute

Read it at the link:

To read the State Revenue Report, go to www.rockinst.org/pdf/government_finance/state_revenue_report/2017-03-09-srr_106.pdf

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IBO Budget Options

From IBO

BUDGET OPTIONS FOR NYC: IBO presents the 16th edition of its compendium of budget options for the city. This new edition includes more than 90 ways to generate savings or raise revenues, including 9 new measures. The report is now structured as a web-based publication. But this does not change a central tenet of the publication: IBO neither supports nor rejects the budget options we present. Each option includes side-by-side arguments for and against implementation: http://bit.ly/2lHsGBu

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IBO: Correction Officers

From IBO

FOCUS ON THE PRELIMINARY BUDGET: Despite an increase in the hiring of new correction officers, overtime spending by the Department of Correction has continued to climb as new policies and programs are put into place: http://bit.ly/2lDYJCB

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IBO estimates the cost of 421-a

From IBO

FOCUS ON THE PRELIMINARY BUDGET: Governor Cuomo’s latest proposal for reviving the 421-a tax break for housing development has several new features. The Mayor’s preliminary budget did not account for the potential cost of this new iteration of 421-a. How much more could this cost the city in forgone tax revenue? IBO’s estimate: http://bit.ly/2lPfjL1

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