New York Governor Andrew Cuomo’s $136.5 billion budget increases so-called back-door borrowing and relies on optimistic revenue estimates that may not materialize, Comptroller Thomas DiNapoli said.
U.S. state and local-government tax collections grew during the last three months of 2011 at the slowest pace in a year, marking a step back from gains that helped ease the strain on public agencies.
Three decades after Californians voted to limit their property taxes and helped start a national revolt with Proposition 13, some consequences are still emerging.
"It is more efficient because it avoids the uncertainty of voters saying no, but the voters pay the bill when we borrow and ought to be included in the decision-making process."
- Robert Ward on Feb 13, 2013