Andrew Cuomo

With prospects of federal aid waning, an $8 billion revenue gap will leave the the state government and Gov. Andrew Cuomo few attractive options.

Chairman Patrick Foye said the designation will better position the authority to cope with the revenue loss from the coronavirus pandemic.

State leaders are reluctant to grant New York City more bond capability, and other city leaders want Bill de Blasio to further reduce his proposed spending plan.

With the latest federal rescue package stalled, New York's mayor has asked state lawmakers to authorize an additional $7 billion in bonding.

New York’s new state budget provides flexibility to deal with near-term revenue hits from COVID-19, but it has little bandwidth to withstand a deep recession.

Lawmakers approved a 2021 fiscal plan with mechanisms for spending reductions throughout the year because of economic headwinds caused by the COVID-19 pandemic.

Negative outlooks trigger questions about other reeling areas in the capital markets crosshairs.

The rating agency, citing severe ridership drops from COVID-19, dropped its rating to A-minus from A. It assigns a negative outlook.

The Medicaid Redesign Team would pare spending on state hospitals by nearly $400 million and projects $1.6 billion in savings overall.

How severe a financial hit New York City will take during the COVID-19 pandemic is as much of an unknown as the degree of virus spread.

Looming state budget cuts combined with the COVID-19 threat could have a negative impact on NYC's economy.

Andy Byford’s departure as MTA New York City Transit president rekindled questions about governance at one of the world’s largest mass transit agencies.

Andy Byford's resignation ends a two-year run marked by innovation and controversy.

As officials sift through Andrew Cuomo's plan to curb Medicaid costs, City Hall insists that the governor's spending-control emphasis is a de facto slash.

New York's governor wants to tackle the state’s budget gap through controlled spending rather than major revenue increases.

Mayor praised for restraint ahead of uncertainty about possible big cuts to city services by Albany.

The mayor warned about looming state Medicaid cuts in his media briefing on the preliminary spending plan.

Gov. Andrew Cuomo’s warnings that cities could absorb more Medicaid costs have triggered uncertainty about the city's budget.

New York's governor wants the state to lead efforts for increased capacity at Manhattan's busy transit hub.

New York City could save up to $400 million through design-build project delivery, the mayor said after Gov. Andrew Cuomo signed a bill to authorize it.