N.Y. Senate legislation proposes changes to parole and ‘earned time'
ROCHESTER, N.Y. (WROC) – Currently, there are two bills in review by The New York State Senate Committees which proposes changes to both parole proceedings and time allowances against incarcerated individuals' sentences.
The first bill, S.159, would require the state Board of Parole to release incarcerated individuals in state prisons who are eligible unless the parole case record demonstrates that person as a risk to the community or has potential to reoffend.
In the bill's justification, it outlines the perspective of the Senators in favor, including Sen. Jeremy Cooney of the 56th district and Sen. Samra Brouk of the 55th district. It details reasons as to why they believe the current decision-making process within the Board of Parole is not effective.
Executive Vice President of the Rochester Police Locust Club Paul Dondorfer explained why the officers in their organization believe the proposed changes could be harmful to the community.
'The men and women of the Rochester Police Department and every police department in the county work their tails off every day to get violent offenders off the street,' Dondorfer said. 'Once we do that, it's up to the criminal justice system to step in and instill punishment onto these people. What happens all the time when these offenders are let out?'
The second bill, S.342, would establish what is referred to as the 'Earned Time Act', with other states including Alabama and Oklahoma currently holding a similar legal structure as what is currently proposed for New York. If passed, the bill would provide time allowances against an incarcerated individual's sentence which would be credited on an annual basis.
The Center of Community Alternatives (CCA) has voiced their support for the passage of this bill alongside Rochester City Council President Miguel A. Melendez Jr., saying the bill would increase safety and allow formerly incarcerated individuals to re-enter society successfully.
'This effort helps us move toward a future where access to opportunity is centered and incarcerated members of our community are given a second chance at restoration,' Melendez said.
Cooney is the primary sponsor of this bill and says it's necessary in following suit of other states who have implemented similar laws and seen success.
'Incarceration without rehabilitation is a missed opportunity to set these individuals up for success and promote safety both inside and outside of the prison walls,' Cooney said. 'From vocational training to drug and alcohol treatment, earned time opportunities are a proven method to stop repeat offenders and lower costs for correctional facilities.'
Dondorfer believes the passage of this bill would take opportunities away from folks who are incarcerated to receive help.
'If someone is incarcerated, that's probably one of the best opportunities that they're going to have to get help, and you'd be taking that help away from them. As for the violent criminals, incarceration is sometimes just the best way to go. Some people are inherently bad,' Dondorfer said.
The full statement from the Locust Club on both of these bills can be found here.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
10 hours ago
- Yahoo
Wall Street Has a New Secret Code for Laughing Behind Donald Trump's Back
Wall Street traders have adopted a term to mock President Trump's flip-flopping trade policy. TACO, an acronym that stands for 'Trump Always Chickens Out,' was coined by Financial Times columnist Robert Armstrong. It has since become a favorite among stockbrokers. Simply put, the tongue-in-cheek term describes how markets dip on President Trump's tariff threats, only to rebound when he inevitably reverses course. In the latest example, markets rallied earlier this week after Trump delayed the 50 percent tariff on the European Union that he had threatened just days earlier. In response to his relenting, the S&P 500 posted its biggest gain in weeks. Speaking on MSNBC Tuesday, Australian economist Justin Wolfers mocked Trump by saying this tariff policy 'nearly lasted one entire long weekend.' 'He was a little unlucky. There was Memorial Day, extended the weekend to three days, and you couldn't have a tariff policy last a full weekend. So, Friday's policy was reversed by Monday. And so, we get to analyze it today on Tuesday. And I think that's really symptomatic,' he said. Suggesting that Trump's word is worth very little in certain circumstances, including tariff threats, Wolfers used the example of Wall Street's new favorite acronym. 'In fact, on Wall Street right now, and it's one level funny and another level tragic. There's a trade called the TACO trade, T-A-C-O, Trump Always Chickens Out,' he said. Wolfers had said Trump's word now lacks 'credibility.' 'There was a time when the president opened his mouth, when you had to pay attention because you thought it meant something, that it was a shift in policy that other countries could rely on and respond to. That's no longer the case,' he said. Salomon Fiedler, an analyst from German bank Berenberg, is just one of many speculators who now say they are happy to wait it out when Trump makes a threat. 'Wild threats by Trump are not unusual,' he wrote in a note last month, when the president 'paused' the super-charged 'Liberation Day' duties he imposed on a slew of countries. 'Given the damage the U.S. would do to itself with this tariff, he will probably not follow through.' Trump paused the duties to allow his economic buffs to secure renewed deals with dozens of nations. So far, only the United Kingdom and China have inked any sort of agreement. Sign in to access your portfolio
Yahoo
11 hours ago
- Yahoo
This investment turned $50,000 into $23 million in 10 years. It's still a buy.
In life, you make things happen, watch things happen or wonder what happened. Don't let your cash slip away unnoticed. Throughout history, moments come when our basic assumptions shift quietly beneath our feet. Most people don't notice until it's too late. I bought my mother-in-law a condo — and she took out a $30,000 car loan. Now she refuses to get a roommate. 'I prepaid our mom's rent for a year': My sister is a millionaire and never helps our mother. How do I cut her out of her will? Circle's stock is having another big day. What the blockbuster IPO has meant for other cryptocurrency plays. I help my elderly mother every day and drive her to appointments. Can I recoup my costs from her estate? S&P 500 changes are imminent. Robinhood and these other stocks could join the index. Imagine two young fish swimming together. An older fish passes by, greeting them, 'Good morning, boys. How's the water?' One fish looks puzzled, leans toward the other, and mutters, 'What the hell's water?' This analogy perfectly illustrates our relationship with our money. You've been floating cluelessly in a fish tank of government funny money for so long you've forgotten you're all wet. Every year, central banks crank the printing presses into overdrive, flooding the economy with more paper currency. Politicians treat debt as endlessly available, with no consequences. This is not capitalism. This is economic waterboarding. And yet we accept it as normal, just as residents of a town that floods every spring casually accept disaster. They move their sofas upstairs, prop up their televisions and shrug: Flooding, to them, is inevitable. When a fresh-faced optimist asks, 'Why don't we just drain the swamp?' he's laughed out of town — until someone suddenly realizes, 'Wait, we actually can drain the swamp.' That's our money system. Instead of sandbags, politicians toss trillions of newly printed dollars at us, hoping we'll float a bit longer. But each fresh flood of cash makes the problem worse. MarketWatch Live: Home to the world's top-performing currency this year, Russia cuts interest rates for the first time since 2022 Bitcoin BTCUSD is the grown-up choice in a world run by toddlers with credit cards. It's not a Band-Aid or a 'patch' or one more empty promise from a politician who'd lose money running a lemonade stand. Instead, bitcoin is stable precisely because no central banker can muck it up. Every minute you hesitate is another moment your wealth gets eaten by money-printing machines run by bureaucrats who think math is an inconvenience. Bitcoin isn't just another investment; it's financial Kevlar for the inevitable gunfight between your wallet and the world's central planners. Protect your savings, or don't — but don't say you weren't warned. But first, understand clearly why you're facing this situation. We live with a profound economic paradox: Technological advances continually lower the cost of living, yet prices keep climbing. Your money buys far less today than 10 or 20 years ago, despite incredible progress. Why? Inflation. It's baked into a monetary system engineered to steadily devalue currency. Most accept this erosion as natural — it isn't. Bitcoin provides an alternative, yet few truly grasp it. Labels like 'digital gold,' 'investment' and 'bubble' confuse rather than clarify, causing bitcoin to remain vastly underutilized. Bitcoin isn't digital gold, although it shares gold's GC00 scarcity. It is not merely a speculative asset you buy hoping prices rise. Instead, understanding bitcoin requires adopting a new mindset. Bitcoin is an open, decentralized system built specifically to securely store and freely exchange value — without banks or bureaucrats getting in the way. Nobody controls bitcoin. Yet everybody can benefit. Consider how the internet transformed information. Before, gatekeepers— newspapers, TV networks — controlled what you saw. The internet removed those gatekeepers, allowing free and instant access to information. Bitcoin applies the same principle to money. It removes financial gatekeepers, eliminates fees and prevents inflationary manipulation, putting control of your finances permanently into your hands. Bitcoin's core innovation is decentralization. Its security isn't backed by banks or governments; it's rooted in mathematics, cryptography and a global network of independent participants. There is no CEO, no headquarters and, crucially, no way to print more currency. This revolutionary design ensures no one can seize your bitcoin, freeze your accounts or dilute your savings. It's money designed intentionally to be fair, neutral, secure and universally accessible. Grasping bitcoin demands a fundamental rethinking — not just about technology but about money itself. It challenges deeply held beliefs about freedom and control. Read: Here's how much higher gold prices can still go — even after doubling the past two years Right now, governments and banks decide how much money to print. Imagine playing the board game Monopoly, but one player secretly prints extra bills. Suddenly, everyone's cash is worth less, and prices rise uncontrollably. This is inflation. It shrinks your savings and paycheck, making everyday life more expensive. Asset owners — those with stocks and real estate — benefit, while regular earners suffer dwindling purchasing power. Bitcoin completely flips this scenario. Its supply is capped at 21 million coins. No government or bank can ever create more. Rather than losing value over time, bitcoin protects — and potentially enhances — your purchasing power. Think of bitcoin like rare baseball cards or limited-edition sneakers. Finite supply plus growing demand equals increased value. Instead of your savings eroding each year through inflation, bitcoin rewards you by maintaining or growing your buying power. Secured by mathematics and powerful computing, it's unforgeable digital gold: safe, scarce and impossible to manipulate. Bitcoin isn't just new money — it forces us to reconsider money's role in our lives entirely. Consider this 10-year investing lesson: On June 2, 2015, imagine you faced a crucial choice. You had $50,000 saved for your child's education. Two investment paths appeared clearly. One, a familiar S&P 500 SPX fund — the SPDR S&P 500 ETF SPY —promising stable, reliable growth. The other, bitcoin: experimental, misunderstood, yet uniquely resistant to inflation. Ten years later, the outcomes diverged dramatically: Bitcoin: Your $50,000 bought roughly 220 coins at about $227 each. Now, with the cryptocurrency recently at about $102,000 per coin, your investment is worth around $23.2 million. S&P 500 ETF: Your $50,000 purchased roughly 236 shares at about $212 each. Now, with the ETF recently at $593 per share, your investment totals roughly $140,000. After adjusting for inflation averaging 3% annually, each 2025 dollar equals 74 cents in 2015 purchasing power. In real, after-inflation terms, your bitcoin investment maintains $17.1 million in buying power, while your S&P 500 ETF preserves about $104,000 — still a gain, but dwarfed by bitcoin's inflation-adjusted returns. This 10-year lesson teaches us something profound about our assumptions. Ultimately, the question isn't just about returns; it's about sovereignty. The real lesson isn't about luck or risk. It's about whom you trust with your money. Do you want your financial destiny dictated by institutions that profit from quietly eroding your wealth, or do you want to become your own banker, operating under principles that respect your financial independence? Read: Trump administration rescinds Biden-era caution about crypto in 401(k) plans — here's what that means for you Here's what keeps me up at night: Right now, somewhere, a couple is arguing over money. A parent is calculating whether they can afford their kid's college tuition. A retiree is watching their savings evaporate, one grocery trip at a time. They're all making the same mistake. See, there are only two kinds of people in this story. Those who act. And those who become cautionary tales their grandchildren whisper about: 'If only Grandpa had bought bitcoin when it was just six figures … ' The math doesn't lie. The 10-year proof is staring you in the face. Your choice isn't between safe and risky anymore. It's between two futures: In one, you're explaining to your family why you ignored the biggest wealth transfer in human history when the evidence was screaming at you. In the other, you're the one who saw what was coming and acted. Twenty years from now, only one question will matter: Were you the smart money or the scared money? Garcia holds positions in bitcoin and gold. . More: America's biggest lender is closing its wallet — and investors and home buyers will feel it. Here's what to watch. Also read: The 'mother of all credit squeezes' is coming — hang on to your wallet 'I'm not wildly wealthy, but I've done well': I'm 79 and have $3 million in assets. Should I set up 529 plans for my grandkids? What's at stake if world's most powerful market finally buckles after decades-long U.S. debt splurge My daughter's boyfriend, a guest in my home, offered to powerwash part of my house — then demanded money How do I make sure my son-in-law doesn't get his hands on my daughter's inheritance? Never mind the tariffs and tantrums. The 'dual equity pain trade' means new highs for stocks. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Miami Herald
11 hours ago
- Miami Herald
Veteran fund manager resets stock market forecast amid Musk, Trump fallout
Put two mercurial personalities in the room, add competing goals and a hefty dose of media pressure, and what do you get? Let's just say that the high-profile friend-to-foe saga isn't overly surprising. Elon Musk and Donald Trump are polarizing figures with a penchant for dropping verbal bombshells, and that was particularly evident this week as the two sparred over the Big Beautiful bill, electric vehicle credits, and debt. The rift may shock some, however, given how closely Musk and Trump worked together over the past year. Don't miss the move: Subscribe to TheStreet's free daily newsletter Musk spent hundreds of millions helping elect Donald Trump as president, and Trump rewarded Musk with a high-profile role in his administration as the head of the Department of Government Efficiency, or DOGE. Trump even went so far as to host a Tesla showroom on the White House lawn to support Musk after Musk's political activism caused a drop in Tesla's sales. One person who wasn't the least bit surprised by the high-profile dust-up was veteran hedge fund manager Doug Kass. Back in December, Kass picked the break-up as one of his top 15 surprises for 2025. It was far from the only correct forecast for Kass. He also predicted a stock market reckoning could cause the S&P 500 to fall 15%, and in April, he accurately forecast that stocks would find their footing after the brutal sell-off. Kass recently revisited his take on Musk and Trump, and how stocks may react to their fallout. His S&P 500 outlook may disappoint many, while his take on Trump and Musk might surprise most. After back-to-back 20% gains in the S&P 500 in 2023 and 2024, including an impressive 24% return last year, investors may have complacently expected more good times in 2025. Then reality set in. The stock market has whipsawed amid a series of shocks, many delivered by President Trump and Elon Musk, via his high-profile and much-debated cost-cutting at DOGE. Related: Elon Musk latest message sends Tesla stock surging Stocks came into 2025 arguably priced to perfection. Optimism for a friendly Federal Reserve shift in monetary policy to dovish interest rate cuts and a flood of artificial intelligence spending fueled big returns last year, pushing the S&P 500's price-to-earnings ratio north of 22. Historically, returns following high P/E ratios have been largely lackluster. That point wasn't lost on Kass, who correctly said in December that the S&P 500 could drop 15% in 2025. "Surprise #9: In 2025, the S&P Index falls by about 15%. The technology-laden Nasdaq drops by over 20%," wrote Kass. Kass beat the bearish drum continuously through February, when the S&P 500 reversed after hitting all-time highs. From mid-February through early April, bombshells in the form of shockingly high tariff announcements from President Trump and job losses stemming from Musk's DOGE efforts caused the benchmark index to plummet. At its worst, the S&P 500 fell 19%, while the tech-heavy Nasdaq fell about 24%. The sharp drop was painful, and many hit the sell button, worried that an endless stream of uncertainty would cause even greater losses. Kass, however, correctly reversed course, making bargain-basement buys on the indexes and tech leaders, including Amazon, near the lows. Since then, Trump's pause on tariffs and potential for trade deals that ease the tariffs' bite have helped fuel a dramatic recovery, lifting the S&P 500 by 20%. More Economic Analysis: Hedge-fund manager sees U.S. becoming GreeceA critical industry is slamming the economyReports may show whether the economy is toughing out the tariffs The result has been a nausea-inspiring roller coaster ride for buy-and-hold investors. That's been particularly true for Tesla (TSLA) shareholders. The EV company rallied after Trump's election amid hope that Musk's White House connections would pave the way to sales growth. Instead, Musk's DOGE efforts, and arguably controversial political comments, caused a mass exodus of left-leaning Tesla buyers. Sales cratered in key markets, including Europe and California, the largest U.S. auto market. In Europe, Tesla sales dropped 49% year-over-year in April to 7,261 vehicles, according to the European Automobile Manufacturers' Association. In California, Tesla registrations fell 21.5% year-over-year in the first quarter, while non-Tesla electric vehicle (EV) registrations grew 14%. Tesla's stock price got hammered as a result, falling 54% from mid-December highs to early April lows. It's since recovered alongside the broad market, jumping 35%, largely on news Elon Musk would step away from DOGE. Doug Kass has seen a thing or two. His career stretches back into the 1970s at money manager Putnam, including a stint as research director for billionaire Leon Cooperman's Omega Advisors. His deep experience navigating markets professionally means he had a front-row seat to his share of political, economic, and stock market surprises. He witnessed Richard Nixon's Watergate implosion, the inflation-riddled 70s, the Savings & Loan crisis, the Internet boom and bust, hanging chads, the housing-bubble-driven Great Financial Recession, Trump presidency version 1.0, Covid, and the recent inflation shock and recovery. Related: Veteran strategist unveils updated gold price forecast Every December, he tests that experience with his "surprises" list for the coming year. This year, in addition to predicting the S&P 500 sell-off, he forecast the unfriendly end of the Trump-Musk relationship. "Surprise #2: The 'other' romance, between Trump/Musk, doesn't make it past spring 2025," wrote Kass. "National protests and demonstrations emerge and demands from a wide array of members of both the Republican and Democratic parties (including conservatives and liberals) call for 'ousting' Elon Musk, an unelected official, from playing such a dominant role in the U.S. government." Kass's Musk prediction is a longer read, but the gist is simple: Musk and Trump will suffer a fallout, which may have consequences for investors. He revisited his outlook, offering a new take on the Trump-Musk situation. "Right in front of us, it is obvious that political positions of influence can easily be bought-sold by both parties (and that certainly includes the presidency)," wrote Kass. "I am not even sure where the performance ends and reality begins. In the end (probably sooner than later) - just like the president's opening salvos of ridiculously high tariff proposals - the two actors will likely have a detente (and kiss and make up) because the downside is certain for both of them, as no one will win. When that make-up happens, no one knows. It could happen today, next week or next month, but the parties' 'interests' are now so enmeshed that Musk and Trump recognize where their bread is buttered." A potential "easing" of tensions would be welcome, given that a long-term tit-for-tat would fuel market volatility. Still, Kass's view of what happens to the stock market next isn't encouraging. "Never in my investing career has there been so many possible social, political, geopolitical, economic, interest rates and fiscal policy outcomes (many of which are adverse). That is why I don't understand the uber confidence expressed by the Perma Bull cabal (led by Fundstrat's Tom Lee) and manifested in a near-vertical move higher for equities over the last two months," continued Kass. "With a forward PE of 22x, equities remain overvalued and, after covering my Index shorts yesterday, I plan to reshort any rally." If Kass is correct that instability will force stocks lower, how low could it go, and when might things improve? "I see seven lean months ahead for our markets. We estimate downside risk to be roughly 3x the upside reward," concludes Kass. Related: Veteran fund manager who predicted April rally updates S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.