Gov. Phil Murphy Unveils N.J. Budget Plan With No New Taxes

A $44.8 billion spending plan unveiled Tuesday by Gov. Phil Murphy calls for no new taxes and fully funds the state pension program for the first time since 1996.

#budgets-and-budgeting, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #elections-governors, #labor-and-jobs, #murphy-philip-d-1957, #new-jersey, #stimulus-economic, #taxation, #unemployment, #united-states-economy

0

The New Debt Prisons

Entrapping debtors betrays the American idea. It must end.

#budgets-and-budgeting, #credit-and-debt, #criminal-justice, #debt-collection, #ex-convicts, #fines-penalties, #prisons-and-prisoners, #probation-and-parole

0

The Senate Has Become a Dadaist Nightmare

No one would ever design a legislative body that worked this way.

#biden-joseph-r-jr, #budgets-and-budgeting, #federal-budget-us, #filibusters-and-debate-curbs, #law-and-legislation, #legislatures-and-parliaments, #senate, #united-states-politics-and-government

0

An Invisible Cost of College: Parental Guilt

Is it any wonder that plenty of people are tempted to borrow a whole lot of money to send their kids to college?

#budgets-and-budgeting, #children-and-childhood, #colleges-and-universities, #content-type-service, #financial-aid-education, #grandparents, #parenting, #personal-finances, #the-price-you-pay-for-college-an-entirely-new-road-map-for-the-biggest-financial-decision-your-family-will-ever-make-book, #tuition

0

Modi’s Budget for India Reflects Stark Choices

Health care and infrastructure spending received significant increases, but fears about inflation could hold back efforts to get the economy surging again.

#budgets-and-budgeting, #coronavirus-2019-ncov, #defense-and-military-forces, #economic-conditions-and-trends, #gross-domestic-product, #india, #inflation-economics, #internal-storyline-no, #politics-and-government, #rationing-and-allocation-of-resources, #stimulus-economic

0

A Casino in Manhattan? Strapped Developers Hope So

With commercial real estate slumping, casino interests are lobbying the state to grant early approval for city-based casinos.

#budgets-and-budgeting, #casinos, #gambling, #ll-holding-co, #law-and-legislation, #new-york-city, #real-estate-commercial, #vornado-realty-trust

0

Cuomo Offers Doomsday Proposal to Attack a Possible $15 Billion Deficit

Without a full federal aid package, the state would have to cut $2.6 billion in school and Medicaid spending, the governor said.

#budgets-and-budgeting, #cuomo-andrew-m, #new-york-state, #politics-and-government, #schumer-charles-e, #state-legislatures, #stimulus-economic, #taxation

0

Virus Siphons $2.5 Billion in N.Y.C. Property Tax Revenue

The value of office buildings and hotel properties, which have all but emptied out since the pandemic began, is expected to take a nosedive.

#budgets-and-budgeting, #coronavirus-2019-ncov, #de-blasio-bill, #new-york-city, #property-taxes, #real-estate-commercial, #real-estate-and-housing-residential, #schumer-charles-e

0

With State in Crisis, Cuomo Outlines Plan to ‘Win the Covid War’

Facing a daunting budget shortfall and a surging second wave, Gov. Andrew Cuomo unveiled New York’s agenda as state leaders seek help from Washington.

#budgets-and-budgeting, #coronavirus-2019-ncov, #cuomo-andrew-m, #gambling, #marijuana, #new-york-state, #state-of-the-state-message-nys

0

Legalized Marijuana in New York: This Could Be the Year

With the state facing a budget crisis, a Democratic supermajority in Albany may pave the way for new taxes and the legalization of recreational pot.

#budgets-and-budgeting, #coronavirus-2019-ncov, #cuomo-andrew-m, #marijuana, #new-york-state, #politics-and-government, #state-legislatures, #taxation

0

San Francisco’s Top Art School Says Future Hinges on a Diego Rivera Mural

The University of California is aiding the San Francisco Art Institute, but S.F.A.I. officials say selling a $50 million Rivera could save the school. Former students are outraged.

#art, #boards-of-directors, #budgets-and-budgeting, #colleges-and-universities, #finances, #levy-pam-rorke, #murals, #quarantine-life-and-culture, #rivera-diego, #san-francisco-calif, #san-francisco-art-institute, #university-of-california

0

How To Spend in 2021

Last year we were just trying to roll with the punches. Hopefully now we can apply some of those survival skills to our finances.

#budgets-and-budgeting, #content-type-service, #personal-finances, #quarantine-life-and-culture, #savings

0

With No Tickets to Sell, Arts Groups Appeal to Donors to Survive

Virtual cocktail parties have replaced black-tie galas as cultural institutions struggle to pay their operating costs.

#armstrong-richard-1949, #ars-nova, #borda-deborah, #budgets-and-budgeting, #classical-music, #culture-arts, #detroit-symphony-orchestra, #guggenheim-solomon-r-museum, #kennedy-john-f-center-for-the-performing-arts, #lincoln-center-for-the-performing-arts, #new-york-city-ballet, #new-york-philharmonic, #philanthropy, #quarantine-life-and-culture, #rutter-deborah-f, #timms-henry

0

How the Pandemic Is Imperiling a Working-Class College

The coronavirus has hurt Indiana University of Pennsylvania, but its financial problems were planted years ago.

#budgets-and-budgeting, #colleges-and-universities, #coronavirus-2019-ncov, #indiana-pa, #indiana-university-of-pennsylvania, #layoffs-and-job-reductions, #pennsylvania, #tuition

0

Trump Signs Pandemic Relief Bill After Unemployment Aid Lapses

After calling the measure a “disgrace,” President Trump abruptly signed it, extending expanded unemployment benefits and an eviction moratorium, and averting a government shutdown.

#budgets-and-budgeting, #coronavirus-2019-ncov, #federal-aid-us, #law-and-legislation, #real-estate-and-housing-residential, #stimulus-economic, #trump-donald-j, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

0

Israel Heads Toward Yet Another Election, Its 4th in 2 Years

A protracted political crisis revolving around Prime Minister Benjamin Netanyahu’s legal troubles has brought the coalition government to the verge of collapse.

#blue-and-white-israeli-political-party, #budgets-and-budgeting, #elections, #gantz-benny, #immunity-from-prosecution, #israel, #legislatures-and-parliaments, #likud-party-israel, #netanyahu-benjamin, #politics-and-government

0

Why Some States Are Predicting Higher Revenue Amid Job Losses

As the pandemic batters the poor, the rich prop up state budgets.

#budgets-and-budgeting, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #income-inequality, #politics-and-government, #states-us, #stimulus-economic, #united-states-economy

0

Congress Drops State Aid to Secure Stimulus, A Challenge for Biden

A campaign by conservative activists and disputes over how to divvy up federal assistance have thwarted negotiators. But President-elect Joe Biden will make a new push for such funding next year.

#americans-for-tax-reform, #biden-joseph-r-jr, #budgets-and-budgeting, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #house-of-representatives, #law-and-legislation, #norquist-grover-g, #recession-and-depression, #republican-party, #senate, #states-us, #taxation

0

Counting on Biden, M.T.A. Shifts From Doomsday Budget to a Wishful One

New York’s transportation agency is expected to pass a stopgap budget that omits the draconian cuts transit officials have threatened in recent months.

#budgets-and-budgeting, #citizens-budget-commission, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #foye-patrick-j, #new-york-city, #prices-fares-fees-and-rates, #reinvent-albany, #riders-alliance, #subways, #transit-systems

0

Was Merkel Right to Compromise With the Populists?

Liberal critics see compromise with the leaders of Hungary and Poland as betraying pro-European forces in those countries.

#budapest-hungary, #budgets-and-budgeting, #europe, #european-council, #european-union, #merkel-angela, #orban-viktor, #politics-and-government, #warsaw-poland

0

E.U. Insists on Rule of Law in Emerging Deal With Hungary and Poland

Leaders will meet Thursday to work out a compromise with the two holdouts, who have vetoed the bloc’s budget and stimulus plans over threats that they will lose access to funds.

#budgets-and-budgeting, #coronavirus-2019-ncov, #democracy-theory-and-philosophy, #european-commission, #european-union, #hungary, #orban-viktor, #poland, #politics-and-government, #stimulus-economic

0

Minneapolis City Council Votes to Remove $8 Million From Police Budget

The move comes as the city grapples with efforts to overhaul the department after the police killing of George Floyd.

#black-lives-matter-movement, #black-people, #budgets-and-budgeting, #city-council-nyc, #city-councils, #floyd-george-d-2020, #frey-jacob-1981, #george-floyd-protests-2020, #minneapolis-minn, #police, #police-brutality-misconduct-and-shootings, #police-department-minneapolis-minn, #police-reform, #politics-and-government, #united-states

0

States Try to Rescue Small Businesses as U.S. Aid Is Snarled

State governments are offering loans, grants and tax rebates, but budget constraints limit their impact.

#budgets-and-budgeting, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #federal-aid-us, #republican-party, #small-business, #states-us, #stimulus-economic

0

Joe Biden and the Decency Agenda

Joe Biden promised to be a president for all Americans. Here’s a way to start.

#biden-joseph-r-jr, #budgets-and-budgeting, #demonstrations-protests-and-riots, #presidential-election-of-2020, #social-media, #speeches-and-statements, #trump-donald-j, #united-states-national-anthem-protests-2016, #united-states-politics-and-government

0

In Blue States and Red, Pandemic Upends Public Services and Jobs

As a standoff over federal aid persists, state and local governments are making deep budget cuts. “Everything’s going to slow down,” one official said.

#budgets-and-budgeting, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #labor-and-jobs, #layoffs-and-job-reductions, #local-government, #politics-and-government, #republican-party, #states-us, #taxation, #united-states-economy

0

Israel Takes First Step Toward New Election

Prime Minister Benjamin Netanyahu’s coalition partners sided with the opposition in a preliminary vote to bring down the government, which has been largely paralyzed over infighting.

#budgets-and-budgeting, #elections, #gantz-benny, #israel, #netanyahu-benjamin, #politics-and-government

0

In Their 20s and Saving for Retirement: How It Started, How It’s Going

Three savers learned some important lessons early on.

#budgets-and-budgeting, #content-type-service, #coronavirus-2019-ncov, #generation-z, #millennial-generation, #pensions-and-retirement-plans, #personal-finances, #retirement, #savings, #stocks-and-bonds, #united-states, #united-states-economy

0

They Were Worried About Finances. This Is How They Got Help.

“I have never seen this much anxiety and fear about money,” one financial counselor said.

#banking-and-financial-institutions, #budgets-and-budgeting, #layoffs-and-job-reductions, #new-york-city, #savings, #unemployment

0

What the M.T.A.’s ‘Doomsday’ Cuts Would Actually Look Like

The New York transit agency has threatened to slash subway and bus service by 40 percent if it doesn’t receive federal aid. What could really happen is a bit more complicated.

#budgets-and-budgeting, #citizens-budget-commission, #coronavirus-2019-ncov, #foye-patrick-j, #metropolitan-transportation-authority, #new-york-city, #prices-fares-fees-and-rates, #subways, #transit-systems

0

Pandemic’s Fiscal Toll on New York City: 5 Takeaways

The city is already facing a nearly $4 billion budget gap next year, as recovery efforts from the coronavirus are hampered by evidence of a second wave.

#budgets-and-budgeting, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #de-blasio-bill, #layoffs-and-job-reductions, #new-york-city

0

Protesters in Guatemala Set Fire to Congress Building Over Spending Cuts

After two hurricanes displaced thousands of people and wrecked infrastructure, a bill that cut spending on health and education and bolstered lawmakers’ meal stipends touched off a wave of anger in the capital.

#budgets-and-budgeting, #demonstrations-protests-and-riots, #fires-and-firefighters, #guatemala-city-guatemala

0

Subway Service Could Be Cut 40% if No Federal Aid Arrives

On Wednesday, transit officials announced some new details of proposed service cuts, including slashing weekend service and eliminating bus lines, to address its multibillion-dollar budget hole.

#budgets-and-budgeting, #buses, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #foran-robert-e, #mckinseyco, #metropolitan-transportation-authority, #stimulus-economic, #subways, #transit-systems, #transit-workers-union, #tri-state-transportation-campaign

0

Hungary, Poland Threaten E.U. Stimulus Over Rule of Law Links

The two illiberal governments, having been enabled by the bloc’s leaders and evaded punishment, now hold a 1.8 trillion euro package hostage.

#budgets-and-budgeting, #coronavirus-2019-ncov, #europe, #european-commission, #european-parliament, #european-union, #hungary, #legislatures-and-parliaments, #merkel-angela, #morawiecki-mateusz, #orban-viktor, #poland, #politics-and-government, #stimulus-economic

0

Recreational Marijuana Legalized by New Jersey Voters

Voters approved a constitutional amendment to legalize cannabis in New Jersey, putting pressure on neighboring states like New York.

#american-civil-liberties-union, #budgets-and-budgeting, #constitutional-amendments, #cuomo-andrew-m, #george-floyd-protests-2020, #law-and-legislation, #marijuana, #medical-marijuana, #murphy-philip-d-1957, #new-jersey, #new-york-state, #politics-and-government, #referendums, #state-legislatures, #states-us

0

M.T.A. Slashes in Service Could Erase 450,000 Jobs

A new report found that service cuts could cost the New York metropolitan area 450,000 jobs by 2022, resulting in $50 billion in lost earnings.

#budgets-and-budgeting, #coronavirus-2019-ncov, #federal-aid-us, #layoffs-and-job-reductions, #metropolitan-transportation-authority, #new-york-city, #new-york-metropolitan-area, #new-york-university, #subways, #transit-systems

0

California Tax Revolt Faces a Retreat, 40 Years Later

Proposition 13 in 1978 curbed property tax increases. Now voters may strip protection for commercial buildings, helping hard-hit local budgets.

#budgets-and-budgeting, #california, #coronavirus-2019-ncov, #jarvis-howard-1903-86, #landlords, #local-government, #political-advertising, #property-taxes, #real-estate-commercial, #real-estate-and-housing-residential, #recession-and-depression, #referendums, #small-business

0

Colleges Slash Budgets in the Pandemic, With ‘Nothing Off-Limits’

Liberal arts departments, graduate student aid and even tenured teaching positions are targets as the coronavirus causes shortfalls.

#budgets-and-budgeting, #colleges-and-universities, #coronavirus-2019-ncov, #layoffs-and-job-reductions, #shutdowns-institutional

0

6 Are Shot in Brooklyn as N.Y.C.’s Summer of Violence Spills Into Fall

Shootings that plagued the city for most of the summer have not abated, and some city leaders question whether the police have backed off enforcement.

#bronx-nyc, #brooklyn-nyc, #budgets-and-budgeting, #murders-attempted-murders-and-homicides, #new-york-city, #police, #police-department-nyc, #shea-dermot-f-1969

0

How Trump’s Cash Crunch is Affecting the Campaign’s Final Weeks

With far less money than anticipated, campaign officials are scrambling to address a severe financial disadvantage against Joseph R. Biden Jr., producing something of an internal blame game.

#advertising-and-marketing, #biden-joseph-r-jr, #budgets-and-budgeting, #campaign-finance, #parscale-brad-1976, #political-advertising, #presidential-election-of-2020, #republican-national-committee, #stepien-bill, #television, #trump-donald-j, #united-states-politics-and-government

0

In Love and Out of Debt

Haley Messner and Tanner Cemper had obstacles to overcome before they could marry. First came their financial issues, then they had to deal with a pandemic.

#budgets-and-budgeting, #coronavirus-2019-ncov, #personal-finances, #weddings-and-engagements

0

PBS Showed TV the Future. But What Does Its Own Look Like?

It created the blueprint for what TV has become. And, while networks and streaming services reap the benefits of PBS’s successes, it is still struggling to survive.

#budgets-and-budgeting, #federal-budget-us, #public-broadcasting, #public-broadcasting-service, #television, #united-states-politics-and-government

0

Baltimore Museum to Sell 3 Blue-Chip Paintings to Advance Equity

As museum staffs demand social justice in the office, an institution sells off prime works to answer the call. Is this the right way to do it?

#art, #assn-of-art-museum-directors, #auctions, #baltimore-md, #baltimore-museum-of-art, #bedford-christopher, #black-people, #budgets-and-budgeting, #coronavirus-2019-ncov, #finances, #marden-brice, #museums, #sirmans-franklin, #sothebys, #still-clyfford, #walker-darren-1959, #warhol-andy

0

New Jersey Gas Tax Spikes Because of Coronavirus Impact

Taxes on gasoline and diesel increased by 9.3 cents a gallon on Thursday in a state once known for bargain fuel. The increase came a month after tolls on major roadways also went up.

#bridges-and-tunnels, #budgets-and-budgeting, #gasoline-tax-us, #infrastructure-public-works, #new-jersey, #oil-petroleum-and-gasoline, #politics-and-government, #roads-and-traffic

0

Cal Athletic Director Says Football Will Help School Balance Sports Budget

California has been considering how to adjust with a $55 million budget shortfall. An influx of TV money by staging a football season will help.

#athletics-and-sports, #budgets-and-budgeting, #college-athletics, #colleges-and-universities, #coronavirus-2019-ncov, #football-college, #pacific-12-conference, #university-of-california-berkeley

0

‘We’re at War’: New York City Faces a Financial Abyss

The pandemic has crippled tourism, retail and the culture sector. The damage could last years, and layoffs, service cuts and added debt are all on the table.

#budgets-and-budgeting, #coronavirus-2019-ncov, #credit-and-debt, #federal-aid-us, #new-york-city, #politics-and-government

0

How a Pledge to Dismantle the Minneapolis Police Collapsed

When a majority of City Council members promised to “end policing as we know it” after George Floyd’s killing, they became a case study in how idealistic calls for structural change can falter.

#black-lives-matter-movement, #black-people, #black-visions-collective, #budgets-and-budgeting, #city-councils, #constitutional-amendments, #frey-jacob-1981, #george-floyd-protests-2020, #minneapolis-minn, #noor-miski, #police-department-minneapolis-minn, #police-reform, #politics-and-government

0

N.J. Will Borrow $4.5 Billion as Pandemic Pain Hits States

It is one of the first states to take on debt to plug a budget hole created by the impact of the coronavirus.

#budgets-and-budgeting, #coronavirus-2019-ncov, #coughlin-craig-j-1958, #credit-and-debt, #lance-leonard, #moodys-investors-service-inc, #murphy-philip-d-1957, #new-jersey, #politics-and-government, #state-legislatures, #testa-michael-l

0

NYC Mayor to Furlough 495 Staff Members for a Week, Including Himself

The symbolic move, which would yield $860,000 in anticipated savings, could be a precursor to similar maneuvers to slash the budget.

#budgets-and-budgeting, #coronavirus-2019-ncov, #de-blasio-bill, #layoffs-and-job-reductions, #new-york-city, #politics-and-government

0

How to Fix New York’s $5 Billion Budget Crisis

Before he borrows, Mayor de Blasio needs to make significant cuts to avoid greater pain later.

#bloomberg-michael-r, #budgets-and-budgeting, #citizens-budget-commission, #city-council-nyc, #coronavirus-2019-ncov, #de-blasio-bill, #financial-control-board, #government-employees, #labor-and-jobs, #layoffs-and-job-reductions, #organized-labor, #politics-and-government, #stringer-scott-m

0

Tax the Ultrarich? Cuomo Resists, Even With a $14 Billion Budget Gap

State Democratic lawmakers are pressuring Gov. Andrew Cuomo to approve a tax on the wealthy, fearing that budget cuts will hurt those most in need.

#budgets-and-budgeting, #capital-gains-tax, #coronavirus-2019-ncov, #cuomo-andrew-m, #high-net-worth-individuals, #income-tax, #new-york-state, #taxation

0