Latest news with #ReinventAlbany
Yahoo
20-05-2025
- Business
- Yahoo
Hochul, MTA celebrate restored A train subway line – but still no answers on how they'll pay for $3B spending plan
ALBANY – All aboard the debt train? Gov. Kathy Hochul took a victory lap on restored service on the Rockaway A Train Monday morning, but it's still a mystery how the flailing MTA will plug a funding hole in its massive five-year capital plan. Hochul acknowledged last week that a deal included in state budget talks to fund most of the MTA's record-breaking $68 billion capital plan proposal includes a $3 billion shortfall that she expects the transit agency to cover on its own by coming up with savings and issuing new debt. 'We've asked for the MTA to come up with $150 million worth of savings, which I know they're capable of, and that money would result in bonding the additional $3 billion dollars,' Hochul said. With reporters in tow, Hochul posed for pictures and handed out stickers to riders on the A train Monday morning. She then delivered some remarks at a press conference alongside other pols and MTA Chair Janno Lieber before leaving in a state police SUV that ferried her away without taking questions. A rep for Hochul referred The Post to comments from Lieber where he committed to making cuts, but didn't elaborate on the logic behind taking on additional debt. 'The legislature and the governor have challenged us to figure out how to do all the work that was programmed in the $68 billion dollar program and to do it for less and we've accepted that challenge,' Lieber said. Watchdogs like Rachael Fauss from Reinvent Albany are concerned that the MTA may have to break precedent and tap into its operating revenue from subway fares and other sources to fund multi-year projects housed under its massive capital plan. 'We don't know what the future holds for the economy and the MTA, so making a commitment to use operating savings for long-term debt is risky,' Fauss said. She noted that could lead to fare hikes or cuts to service if an economic downturn hits as Hochul herself had forecasted. 'What you don't want is the MTA using operating revenues or fare box revenue to bond if they don't have to, because that puts pressure on them and means less money for their operating budget,' Fauss said. Lieber said as recently as last week he's committed to keeping MTA debt amounts at or below 15% of operating revenues. 'There's lots of ways that we can accomplish the saving and efficiency we have talked about but we're just getting started. So I don't want anyone to think that we're just piling on the borrowing,' Lieber said. Multiple lawmakers told The Post they hadn't been looped in on the MTA's plans either. Some expressed similar concerns about possibly bonding out operating revenues for the capital plan. 'Generally that's not a very good financial procedure,' Assemblyman David Weprin (D-Queens) told The Post.
New York Post
19-05-2025
- Business
- New York Post
Hochul, MTA celebrate restored subway line but still no answers on how they'll pay for massive spending plan
ALBANY – All aboard the debt train? Gov. Kathy Hochul took a victory lap on restored service on the Rockaway A Train Monday morning, but it's still a mystery how the flailing MTA will plug a funding hole in its massive five-year capital plan. Hochul acknowledged last week that a deal included in state budget talks to fund most of the MTA's record breaking $68 billion capital plan proposal includes a $3 billion shortfall that she expects the transit agency to cover on its own by coming up with savings and issuing new debt. 3 Gov. Kathy Hochul says she expects the remaining $3 billion gap in the MTA's 2025-2029 capital plan to be filled by issuing new debt. Dennis A. Clark 'We've asked for the MTA to come up with $150 million worth of savings, which I know they're capable of, and that money would result in bonding the additional $3 billion dollars,' Hochul said. With reporters in tow, Hochul posed for pictures and handed out stickers to riders on the A train Monday morning. She then delivered some remarks at a press conference alongside other pols and MTA Chair Janno Lieber before leaving in a state police SUV that ferried her away without taking questions. A rep for Hochul referred The Post to comments from Lieber where he committed to making cuts, but didn't elaborate on the logic behind taking on additional debt. 'The legislature and the governor have challenged us to figure out how to do all the work that was programmed in the $68 billion dollar program and to do it for less and we've accepted that challenge,' Lieber said. 3 Gov. Kathy Hochul celebrated restored A train service from Rockaway Monday morning. Dennis A. Clark Watchdogs like Rachael Fauss from Reinvent Albany are concerned that the MTA may have to break precedent and tap into its operating revenue from subway fares and other sources to fund multi-year projects housed under its massive capital plan. 'We don't know what the future holds for the economy and the MTA, so making a commitment to use operating savings for long-term debt is risky,' Fauss said. She noted that could lead to fare hikes or cuts to service if an economic downturn hits as Hochul herself had forecasted. 'What you don't want is the MTA using operating revenues or fare box revenue to bond if they don't have to, because that puts pressure on them and means less money for their operating budget,' Fauss said. Lieber said as recently as last week he's committed to keeping MTA debt amounts at or below 15% of operating revenues. 3 The MTA's most recent five-year capital plan proposal is its largest ever at a massive $68 billion. Gregory P. Mango 'There's lots of ways that we can accomplish the saving and efficiency we have talked about but we're just getting started. So I don't want anyone to think that we're just piling on the borrowing,' Lieber said. Multiple lawmakers told The Post they hadn't been looped in on the MTA's plans either. Some expressed similar concerns about possibly bonding out operating revenues for the capital plan. 'Generally that's not a very good financial procedure,' Assemblyman David Weprin (D-Queens) told The Post.
Yahoo
08-05-2025
- Business
- Yahoo
NYS Dems pack budget full of ‘self-serving' perks, watchdog group has ‘nothing positive to say' about it
Democratic leaders packed the long-overdue state budget with policy measures that will benefit themselves including changes that can help bolster their reelection bids with taxpayer dough. The massive budget package that was set to be voted on beginning Wednesday includes measures to tweak the public campaign financing system, allow lawmakers to keep collecting salaries from side jobs — and even help Gov. Kathy Hochul ward off a challenge from her estranged lieutenant governor. 'All in all, it's a generally bad Albany at its cynical worst, and we have nothing positive to say about this and how they've done this just underlines that these are self-serving changes Democratic incumbents,' John Kaehny, executive rirector of Reinvent Albany, told The Post Wednesday. The budget deal will delay a cap on lawmakers' outside income — pushing it out until at least 2027. The ban was supposed to go into effect this year, but has been held up due to a court challenge brought by Republican lawmakers. A lower court ruled earlier this year that the cap was constitutional. Democrats in the legislature also secured a measure jacking up the limit on donations to be eligible for public funds. Previously, candidates could have donations up to $250 matched by taxpayer funds provided the individual contributing doesn't go over that amount. The limit is now being raised to $1,050, though the state will still only pony up a max $250 match. The program's original stated intent was to incentivize candidates who were seeking contributions from normal working people instead of the fat cat donor class. Critics of the change, like Kaehny, argue it will run against the matching program's original intent by extending those incentives to wealthy donors as well. 'They're weakening a landmark campaign finance bill that was passed in broad daylight after eight all-day public hearings and dozens of other consultative meetings and an enormous amount of public debate in daylight,' Kaehny railed. Assembly Speaker Carl Heastie (D-Bronx) tried defending the cynical move by arguing that it has caused headaches for campaigns when people accidentally give slightly more than the $250 limit. 'It's just a way to just allow people to be supportive of you,' Heastie said. 'It's not undoing the essence of the program. It's just making a modification that the 251st dollar doesn't disqualify you from getting a match if a constituent wants to support you,' the speaker claimed. Another provision tucked into the deal would require governors and lieutenant governors to run on the same ticket during the primary, instead of separately as elections work now. This would benefit Hochul if Lt. Gov. Antonio Delgado runs against her for the governor seat next year, because he would need to rally someone to share the ticket to challenge an influential incumbent, insiders said. Delgado has already said he won't run to be Hochul's lieutenant governor again. It wasn't an entirely new proposal, and has netted bipartisan support. State Sen. Joe Griffo (R-Onedia) has sponsored legislation to do the same thing for years, but he said the change to elections should've been done outside the undemocratic backroom budget process. 'While this type of good government reform deserves a full public discussion outside the budget process, this change will help ensure voters elect leadership teams that share a common vision and are prepared to govern effectively,' Griffo wrote in a joint statement with Assemblyman Angelo Santabarbara.
New York Post
08-05-2025
- Business
- New York Post
NYS Dems pack budget full of ‘self-serving' perks, watchdog group has ‘nothing positive to say' about it
Democratic leaders packed the long-overdue state budget with policy measures that will benefit themselves including changes that can help bolster their reelection bids with taxpayer dough. The massive budget package that was set to be voted on beginning Wednesday includes measures to tweak the public campaign financing system, allow lawmakers to keep collecting salaries from side jobs — and even help Gov. Kathy Hochul ward off a challenge from her estranged lieutenant governor. 'All in all, it's a generally bad Albany at its cynical worst, and we have nothing positive to say about this and how they've done this just underlines that these are self-serving changes Democratic incumbents,' John Kaehny, executive rirector of Reinvent Albany, told The Post Wednesday. Advertisement 3 Democratic leaders have finalized the long-overdue New York state budget. Hans Pennink The budget deal will delay a cap on lawmakers' outside income — pushing it out until at least 2027. The ban was supposed to go into effect this year, but has been held up due to a court challenge brought by Republican lawmakers. Advertisement A lower court ruled earlier this year that the cap was constitutional. Democrats in the legislature also secured a measure jacking up the limit on donations to be eligible for public funds. Previously, candidates could have donations up to $250 matched by taxpayer funds provided the individual contributing doesn't go over that amount. The limit is now being raised to $1,050, though the state will still only pony up a max $250 match. Advertisement 3 Policy measures were put into place that will help them individually, along with changes made that can help bolster their reelection campaigns. Hans Pennink for the NY Post The program's original stated intent was to incentivize candidates who were seeking contributions from normal working people instead of the fat cat donor class. Critics of the change, like Kaehny, argue it will run against the matching program's original intent by extending those incentives to wealthy donors as well. 'They're weakening a landmark campaign finance bill that was passed in broad daylight after eight all-day public hearings and dozens of other consultative meetings and an enormous amount of public debate in daylight,' Kaehny railed. Advertisement Assembly Speaker Carl Heastie (D-Bronx) tried defending the cynical move by arguing that it has caused headaches for campaigns when people accidentally give slightly more than the $250 limit. 3 The budget will also delay a cap on lawmakers' outside income for at least another 2 years. Hans Pennink 'It's just a way to just allow people to be supportive of you,' Heastie said. 'It's not undoing the essence of the program. It's just making a modification that the 251st dollar doesn't disqualify you from getting a match if a constituent wants to support you,' the speaker claimed. Another provision tucked into the deal would require governors and lieutenant governors to run on the same ticket during the primary, instead of separately as elections work now. This would benefit Hochul if Lt. Gov. Antonio Delgado runs against her for the governor seat next year, because he would need to rally someone to share the ticket to challenge an influential incumbent, insiders said. Delgado has already said he won't run to be Hochul's lieutenant governor again. Advertisement It wasn't an entirely new proposal, and has netted bipartisan support. State Sen. Joe Griffo (R-Onedia) has sponsored legislation to do the same thing for years, but he said the change to elections should've been done outside the undemocratic backroom budget process. 'While this type of good government reform deserves a full public discussion outside the budget process, this change will help ensure voters elect leadership teams that share a common vision and are prepared to govern effectively,' Griffo wrote in a joint statement with Assemblyman Angelo Santabarbara.
Yahoo
22-03-2025
- Business
- Yahoo
NY transparency groups celebrate two 'Sunshine Week' wins
New York state transparency advocates scored a pair of victories in Albany in a week set aside each year to highlight the need for reforms to shine a light on the inner-workings of government. Reinvent Albany joined 18 other watchdog, transparency and journalism groups on Friday in celebrating the approval by the New York Assembly of two bills designed to strengthen the state's Freedom of Information Law. The bill passed by the assembly would require corporations to re-apply for their records to be exempted from FOIL after they are submitted to the state. The piece of legislation would change the current setup, which allows corporations to ask the state to have their records exempted from FOIL permanently. Reinvent Albany and the other groups support change, arguing that the public should have the right to see how much the state pays for services and whether investments of public money in private projects offer adequate returns for taxpayers. The second bill passed by the assembly would require government agencies to report on many FOIL requests they are receiving and closing. Good government advocates argue such a system is needed to enable the public to better understand the state of FOIL in NY and see which agencies are struggling to fill requests. Both bills were approved by the assembly this week, recognized nationwide as Sunshine Week, a collaborative campaign organized by journalists, news outlets, civic organizations and educational groups to highlight the importance of public records and open government. Both measures will require state senate approval and Gov. Kathy Hochul's approval before they can become law. 'Reinvent Albany thanks the New York State Assembly for leading on two bills strengthening the state's Freedom of Information Law. We urge the Senate to pass both of these bills quickly and help persuade the governor to sign them,' the non-profit group said in a press release issued on Friday. Two other FOIL bills still have not passed either house of the state legislature, yet remain on good government groups' list of priorities, including one that would reduce the amount of time agencies are allowed to respond to FOIL requests and another that would strengthen provisions for compensating attorneys that are involved in successful FOIL-related cases.
