Watervliet
Watervliet, NY · Municipal
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Albany Common Council mulls rule changes after city issues $10 million loan
The Albany Common Council is considering changes that would require the city treasurer to notify them — or seek council approval — before issuing short-term loans. The move comes after the City Treasurer's Office announced it would issue $10 million in short-term loans to cover expenses through the end of the year as the city faces a shortage of cash. The treasurer's notice to potential investors surprised some members of the Common Council, who say they weren't properly consulted.
spectrumlocalnews.com
Albany Finance Committee addresses city's budget
The Albany Common Council's Finance, Assessment, and Taxation Committee held a meeting Monday night to discuss the city’s budget and economic situation. Finance Committee Chair Meghan Keegan laid out the reality of the budget. “There is no way to cut this budget any further than it's already cut without...
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...
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