Jewett
Jewett, NY · Municipal
Streetsblog Capitol Hill
spectrumlocalnews.com
City of Albany poised to borrow more money to cover expenses, including salaries
Cities across New York have been facing financial difficulties in recent years. One of them is the city of Albany, which received the worst stress score of any municipality by the state Comptroller’s Office in its annual report at the end of September. According to the Comptroller’s Office, the city has a projected deficit of $26 million for this year and $35 million for 2027.
New York Post
Expect Albany’s leaders to throw away its $8B Wall Street revenue windfall
Albany just got a windfall of $8 billion — get ready to watch the state’s leaders throw it away. Wall Street bonuses are soaring for a third straight year, not only producing an $8 billion surplus this year, but also slashing the coming year’s deficit by $6.4 billion to $2.9 billion, a gap the current overage can obviously cover. As state Budget Director Blake Washington noted Tuesday, “It’s hard to talk about new taxes when revenues are performing the way they are,” indicating that Gov. Kathy Hochul won’t be proposing tax hikes, but only “presenting a new favorable financial plan.” This explains Hochul ‘s comment to reporters at the Somos junket in Puerto Rico, namely that she’s open to new taxes “if there’s a need.” Where California Propositions stand as votes are tallied: Prop 40 wealth tax, home loan funds and more Of course, that doesn’t rule out a political need. She’s facing intense pressure from Mayor Zohran Mamdani to hike taxes, because for the socialists, the huge amount of taxes the rich already pay is never enough: They must be punished until they flee New York, taking this massive windfall with them. California voters overwhelmingly reject union-backed Prop. 44
spectrumlocalnews.com
Albany County Legislator Carolyn McLaughlin weighs in on major redevelopment projects in Albany
This weekend on In Focus, Albany County Legislator Carolyn McLaughlin discusses the importance of community engagement, equitable investment and ensuring underserved neighborhoods have a voice in local government decisions. She weighs in on major redevelopment projects in Albany, including proposed data center development and the distribution of state funding, emphasizing...
suncommunitynews.com
Cashman attends Small Business Hearing in Albany
ALBANY | Assemblyman Michael S. Cashman (D-Plattsburgh) attended a legislative hearing in Albany Tuesday morning on the impact and effectiveness of economic development programs that were funded in this year’s state budget. “Throughout the duration of my recent municipal tour, I have been able to sit down and speak...