Sentences with phrase «own budget gap»

«Near term budget gaps for states are immense,» though not unmanageable, said Matt Fabian, a managing director at Municipal Market Advisors.

The second, and more pressing problem, is closing what is estimated to be a multi-billion dollar budget gap in fiscal 2012.

She added that by Congressional Budget Office estimates, cited by Harvard professor and former Secretary of the Treasury Larry Summers, a 0.2 percentage point increase in GDP would eliminate any long - term budget gap.

Despite the fact that it's a weekday afternoon, city hall is empty, too -; the result of a government - mandated four - day workweek to help close the budget gap.

He continued to use budget cuts and public employee layoffs to reduce the state's sizeable budget gap.

Even after painful cuts, budget gaps in those two states alone total nearly $ 4 billion.

As the 2016 fiscal year comes to a close, first - term Governor John Bel Edwards and the state legislature have been in crisis mode, struggling to close a fiscal 2017 budget gap that could run as high $ 800 million — and that is after $ 485 million in emergency spending cuts this year.

In this environment, which states stand to collect the most from a cross-border sales tax, relative to their budget gaps?

So, which states are potentially facing the worst 2010 budget gaps?

As the 2016 fiscal year comes to a close, first - term Gov. John Bel Edwards and the state legislature have been in crisis mode, struggling to close a fiscal 2017 budget gap that could run as high $ 800 million.

When the dust settled, state officials were left with multi-billion-dollar budget gaps that had to be filled.

When they act to close the budget gap, will they increase taxes, or will they cut spending?

And Wisconsin has closed a much larger budget gap in the past without scrapping worker organizing rights.

When Elgin — a town that has had to fill budget gaps in the millions — couldn't afford a park project on its own, officials looked to partner with a neighboring park district.

Mayor Rahm Emanuel today said he will not rely on making city workers take unpaid days off to solve a $ 30 million budget gap Mayor Richard Daley left him with for the second half of the year.

Prior to today's leaders meeting, Gov. David Paterson once again placed the blame on legislative leaders for failing to close the the $ 9.2 billion state budget gap and reach a deal on the 2010 - 2011 spending plan.

State Comptroller Tom DiNapoli gave NYC Mayor Bill de Blasio's budget proposal a thumbs up for the short term, saying he made appropriate use of higher than expected tax revenues to reduce out - year budget gaps and to replenish reserves.

As localities adjust to the property tax cap, more may turn to sales tax revenues to fill in budget gaps.»

Cuomo says the projections could be worse than the original prediction for a $ 2.4 billion budget gap.

Without the offset of the 18 percent wage hike included in the deal realized through health care savings negotiated by the administration with the UFT and Municipal Labor Council, which represents all city employees, this agreement «could increase future budget gaps to levels that would be more difficult for the city to deal with, especially during another downturn,» Moody's warned.

The Cuomo administration's Division of Budget released a quarterly spending plan update Friday morning that still shows out - year budget gaps for the next three fiscal years.

«My hair is red, but I have considered setting it on fire to demonstrate the urgency,» Albany Mayor Kathy Sheehan told state lawmakers, referring to the capital city's need for $ 12.5 million to close its budget gap this year.

Faced with a budget gap of $ 3.7 million in 2017 - 18, college trustees are weighing a tuition hike of 3 percent, a move administrators said would raise about $ 1.3 million toward closing the gap.

While Judge Kahn ruled it is not PEF's responsibility to close the budget gap, PEF continues to find savings.

With Albany looking at another $ 9 billion budget gap to plug next year, the cycle of transit raids blowing a hole in the MTA budget is primed to start all over again.

The Democratic governor, who has vowed to not raised taxes, faces the challenge of closing a $ 10 billion budget gap via spending cuts, primarily in education and healthcare.

For more information on the New York State budget gaps, see Rachel Bardin and Tammy Gamerman, Citizens Budget Commission, «New York City and New York State Budget Briefing» (presentation, June 23, 2015), Slide 15.

Both Cuomo and DiNapoli said the state also is facing a $ 4 billion budget gap next year.

Last December, Albany swiped $ 143 million in MTA funding — most of which came from dedicated transit taxes — to cover the state's budget gap.

Governor Cuomo closes this year's budget gap by reducing spending at state agencies by $ 1.3 billion dollars, and reducing aid to local governments by another $ 756 million dollars.

He will likely try to close a remaining $ 2 billion dollar budget gap without raising any new taxes.

If the MTA's board declines to implement fare hikes outlined for 2019 and 2021 and if the agency doesn't reach its «harder - to - achieve» savings targets, it could be facing a $ 1.7 billion budget gap by 2021, according to MTA CFO Robert Foran, who presented the agency's budget forecast to the board Wednesday.

The remark provided a warning shot to unions now brawling with Gov. Paterson to preserve planned pay raises and stop forced furloughs amid an estimated $ 9.2 billion budget gap.

Gov. Paterson has concluded that Lt. Gov. Richard Ravitch is a «double agent» working for Assembly Speaker Sheldon Silver and against his own efforts to cut the state's projected $ 9.5 billion budget gap, The Post has learned.

Noted that state revenues are set to drop in coming years — with budget gaps projected to climb to $ 3.6 billion by 2020.

New York faces a $ 2 billion dollar budget gap.

A city that relied heavily on dollars from payments by a Native - run casino within its borders is now living without that money and making some tough decisions to address a budget gap.

With a $ 9 billion budget gap looming, straphangers could end up paying again very soon.

Facing declining ridership and rising costs, the MTA will need new revenue sources to avoid its planned fare and toll hike in 2019 and to fight widening budget gaps, officials said Wednesday.

The $ 315 million midyear budget gap could lead to another transit raid in the $ 20 million range before the year is out, if Governor Paterson convenes a lame duck special session and Albany repeats the same sort of heist it pulled off this fall.

And with recounts keeping the State Senate busy, it looks like the budget gap won't get plugged until Cuomo is governor.

Cuomo closes this year's budget gap by reducing spending at state agencies by over a billion dollars.

In reality, prior to the new spending, New York State faced out - year budget gaps that grow from $ 2.0 billion next year to $ 4.2 billion in fiscal year 2018 - 2019.4

As illustrated in the Executive Budget financial plan, the state will be facing significant budget gaps in each of the next three years, and a new payroll tax on employers will be a tempting target for future administrations and Legislatures looking for increased revenues, but reluctant to impose new or higher taxes directly on individuals.

It was the basis for the governor's repeated claim to have turned a huge budget gap into a $ 2 billion surplus, which never actually entered the realm of fiscal reality.

The state faces an over $ 4.4 billion budget gap, as well as funding cuts and policy changes from Washington that could cost New York and some of its taxpayers billions of dollars.

The comptroller said some of the potential budget gap could have been avoided if Cuomo's budget department had been «more aggressive» in putting more money in reserve funds to provide for unforeseen future events.

The PSC's press release (not sent out by the Schneiderman campaign) quotes from the Times» endorsement senator and also highlighted his effort to combat the «corrupting influence of big corporations» and support of tax increases on the wealthy to help close the state's chronic budget gap.

To help close a $ 4.4 billion budget gap, Cuomo proposed an «internet fairness conformity tax» in his executive budget that would require online marketplaces to collect sales tax from third - party sales to New York residents.

Some Democratic lawmakers have indicated they want more revenue - raisers next year in order to fill the remaining budget gap, which now stands at around $ 2 billion.