City of New York, NY

More than one out of every 100 residents who pay income taxes left the Empire State during the pandemic in 2020, according to report released by state Comptroller Thomas DiNapoli. And, while slowing, the trend hasn't stopped.

"There weren't many exemptions made to paying the fee, which should help maximize revenues and make them more predicable when considering leveraging this new revenue stream for infrastructure improvements," said Howard Cure of Evercore Wealth Management.

Without a lot of additional state and federal aid, New York City is forecasting it will spend about $12 billion in costs related to the influx of migrants to the city in fiscal years 2023, 2024 and 2025.

Mayor Eric Adams says the city has a safe and effective way to use artificial intelligence throughout municipal government while protecting against the risks.

Gov. Kathy Hochul this week signed into law a trio of bills passed by New York's Legislature leveraging state resources to accelerate affordable housing in New York City.

The upgrade "reflects a material improvement in the MTA's fiscal outlook, which was largely driven by New York State increasing the maximum rate of the payroll mobility tax," Fitch said.

"Further declines could weaken New York's tax revenue from the securities industry and have repercussions for our state and city budgets," said New York State Comptroller Thomas DiNapoli.

"That puts us well on our way to hitting our ambitious goal of $25 billion awarded to MWBEs by 2026," said New York City Mayor Eric Adams.

Ed Koch, the late mayor of New York, used to ask residents "How am I doin' ?" The Citizens Budget Commission plans to do that this fall with a survey.

The upgrade reflects progress and ongoing development at Hudson Yards that has led to increased payments in lieu of taxes, said S&P credit analyst Felix Winnekens.