Budgets

The Long Island county received its third credit downgrade this year as lawmakers prepared a 2021 budget with massive cuts to cope with virus-induced revenue losses.

Local governments are facing calls for tax relief as the pandemic slows the economy and they implement property tax reform legislation.

Mayor Lori Lightfoot's budget plan strikes the right balance between structural and one-time measures amid the coronavirus, says Jennie Huang Bennett.

The Democratic governor will have continued powers to thwart proposed wealth taxes from progressive members of his party after Republicans prevented a veto-proof Senate majority.

Jeanne Holm, appointed by Mayor Eric Garcetti, will help guide the city government through its worst financial crisis in a decade.

The legalization is projected to generate about $120 million for the fiscally stressed state once the market gets established, which won’t be for another two to three years.

Republicans in the New York county's legislature oppose the debt restructuring, which would save the county an estimated $285 million in interest next year.

Thomas Forkin eyes legal challenges to state's intervention efforts if he defeats incumbent Marty Small in Tuesday's election.

Virus effects have battered New York City’s economy and by extension, the city’s budget and credit standing.

The comptroller report said New York City's reserves mitigate the need for bond financing to fund operations as the city has more in reserve funds than pre-Great Recession and Sept. 11-related recession figures.