Long Beach, the Long Island shore town still reeling almost six months after Hurricane Sandy, is poised to be the first New York city in three years to get permission to sell debt to fill a spending gap.
New York Assembly Democrats rejected Governor Andrew Cuomo’s proposal to raise the retirement age and offer a 401(k)-type option to future workers in their version of the budget, according to a legislative memo released yesterday.
New York Governor Andrew Cuomo wants to overhaul the state’s tax system, use public-private partnerships to fix infrastructure and legalize gambling as he faces a deficit of as much as $3.5 billion next fiscal year.
New York Assembly Speaker Sheldon Silver is calling his chamber’s fellow Democrats to a Dec. 6 meeting in anticipation of a special legislative session on the deficit that may start the following day, according to spokesman Michael Whyland.
New York Assembly Speaker Sheldon Silver proposed a 2 percent property-tax cap, a plan similar to the one Governor Andrew Cuomo has pushed lawmakers to pass before their session ends next month. The state’s top Republican legislator said a three-way agreement on a cap has been reached.
New York Governor Andrew Cuomo and legislative leaders agreed to fully fund the Metropolitan Transportation Authority’s five-year capital budget, allowing projects such as the Second Avenue subway to proceed as planned, said a person with direct knowledge of the deal.