State of New York

A New York state board advanced three proposals to build casinos in New York City, two in Queens and one in the Bronx.

The Dormitory Authority of the State of New York and New York City both saw billion-dollar-plus deals oversubscribed. 

The cuts to Medicaid enacted by Republicans in Washington have such enormous negative ramifications for New York State's hospitals, government and patients.

The judge ruled the administration cannot freeze New York's federal funds in its bid to halt the controversial tolling program.

Lawmakers are putting the final touches on the budget, and Gov. Kathy Hochul said there is broad agreement. Federal cuts may yet scramble everything.

The FHWA said it would start withholding project funds from Manhattan next month and later expand to other areas if the state refuses to halt its tolling program.

Lawmakers have proposed record high spending but left key needs unfunded, the Citizens Budget Commission warns as the state misses its April 1 deadline.

Blake G. Washington discussed Medicare, the MTA and more at a luncheon with the Citizens Budget Commission. 

Gov. Kathy Hochul's $252 billion state budget proposal calls for lower-bracket income tax cuts and one-time cash payouts for everyone.

After years of delays, the Metropolitan Transportation Authority on Sunday launched the new toll on traffic entering southern Manhattan.

The $33 billion funding gap in the authority's five-year capital plan is too big, the Senate majority leader and Assembly speaker said in a rejection letter.

The Metropolitan Transportation Authority's finance committee approved $9 billion of bonds, some backed by new revenue sources.

LA Metro, which has been considering congestion pricing since 2018, said it had "looked forward to learning lessons" from New York's now paused initiative.

Even after paring down the capital plan, the MTA will need to issue debt, and sooner than planned. It will be issued under the MTA's transportation revenue credit rather than its congestion pricing credit, so near-term debt service costs will be higher, CEO Janno Lieber said.

"Numbers are hard to come by in a comprehensive way, but we do learn the state's budget is targeted at $237 billion," said John Hallacy. "This budget is clearly not a 'caretaker' budget, but one that adds significant spending. The question is how that spending will affect the out-years."

"DASNY's financing, construction and grants management on behalf of science, health and educational not-for-profits [are] the foundation for stronger, inclusive and more sustainable communities across the state of New York," said Robert J. Rodriguez.

To maintain the city's good credit rating and robust fiscal health, New York City Comptroller Brad Lander is also proposing a stronger debt management policy to make sure the city keeps its debt service below 15% of tax revenues.

The securities industry accounted for roughly $28.8 billion in state tax revenue and $5.4 billion in New York City tax revenue for fiscal 2023, state Comptroller Thomas DiNapoli estimated.

"This upgrade from Fitch reflects the continued growth of confidence in the MTA's sustainable financial strength, bringing tangible benefits when we look to finance critical transit projects," said MTA Chair and CEO Janno Lieber.

Meanwhile in New York, the state doubles down on climate investments and restricts investments in some big oil and gas companies as the city blasts several big banks as they pull out from the Climate Action 100+ initiative.