Keep Cuomo’s hands off New York City’s budget  1

Keep Cuomo’s hands off New York City’s budget 

NEW YORK, N.Y. (May 26, 2020) — In response to reports that Mayor de Blasio is seeking approval from New York State for the city to borrow to cover its operating expenses, the education advocacy organization Alliance for Quality Education released the following statement:

“Mayor de Blasio’s intention to gain approval from the State to borrow funds in order to cover the city’s operating costs may risk the city’s fiscal sovereignty and open the door to executive overreach. The ability to borrow money will help limit budget cuts and job loss in New York City. The City should be allowed to borrow the funding needed without risking autonomy over budgetary decisions. New York City has an elected Mayor and City Council that works collectively to decide the city’s budget; whatever measures the city takes to meet its operating costs at this time, they cannot be at the expense of the city being able to determine how to spend the city’s budget for itself. Governor Cuomo has leveraged the COVID-19 pandemic to amass unprecedented powers for the executive. We must be on guard to ensure that Governor Cuomo does not leverage this crisis to gain power over the financial management of the New York City budget in the long term. The City or State Comptroller can provide the necessary fiscal oversight to hold the city accountable to making healthy financial decisions.”

“If Governor Cuomo has real concerns around allowing the city to borrow money, then he should authorize Mayor de Blasio to raise taxes on the ultra rich to help fill the budget deficit.”