A much-heralded cap on property taxes championed by Gov. Andrew M. Cuomo is encountering resistance as some communities across New York chafe at what amounts to a restriction on their spending and seek to exempt themselves from the new limits. This article ran back in October, but it highlights an issue that people don’t often…
Tag: states
A Self-Inflicted Mess?
Although Rick Perry is no longer a presidential candidate, he still governs more than 25 million people. In the early stages of his candidacy last year, Texas’ budget struggles made headlines as they called into question his self-avowed fiscal conservatism. Although they often disappear from the headlines once the final budget is approved, state budget…
Devolving the Budget Crisis
An important piece in the NYT from back in March about state efforts to balance their budgets by cutting aid to cities. The article talks about the “balloon” effect: states reduce spending and sometimes taxes by reducing (or eliminating) aid to cities. Cities may respond by raising local taxes in order to fill the gap…
Fiscal emergencies in Michigan
In 2010, Governor Snyder of Michigan signed an emergency manager law that has resulted in the takeovers of four Michigan cities and the Detroit Public School District. The state has also taken preliminary steps in the process of declaring fiscal emergency in the city of Detroit. There is an important backstory and politics to the…