The wage increase will not have special carve - outs for small businesses, but could have a «safety valve» to freeze implementation in the event of an economic downturn, Cuomo told reporters. (nystateofpolitics.com)
«Larger projected out - year budget gaps emphasize the need for the City to manage its resources efficiently so that vital services can be protected in the event of an economic downturn.» (thebronxchronicle.com)
The agreement also includes money set aside for the city's reserves, an additional $ 250 million for the Retiree Health Benefits Trust Fund and $ 1 billion every year for the General Reserve, all meant to protect the city in the event of an economic downturn. (politico.com)