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FOR IMMEDIATE RELEASE
PR- 124-03
May 13, 2003

MAYOR MICHAEL R. BLOOMBERG’S STATEMENT ON GOVERNOR PATAKI’S BUDGET PROPOSAL

“Governor Pataki has put forward a good faith $1.7 billion package, which is intended to help New York City emerge from this fiscal crisis.  Many of the proposals are items the City has been seeking, such as Tort reform and the repeal of the Wicks Law and we are grateful for the Governor’s support.  However, the $2.7 billion agreement with the state legislature covers both new revenues and restorations, both of which are necessary for the City to close its budget gap. We know the Governor is trying to find additional help for the City and we are open to all ideas, some that we may find work and some that for reasons beyond anyone’s control, or due to other constraints, may not be available at this time.  For example, unfortunately, the Governor’s proposal regarding the MAC debt is a simple refinancing of the debt and is not as helpful as the legislature’s proposal, under which the State would assume the cost of the debt and relieve the City of this onerous obligation.

“There are no easy answers to our complex economic problems, but the residents of New York have sacrificed by cutting $3.3 billion from our expense budget in the last 14th months and enduring a painful increase in our property taxes. (72% of the $2.7 billion package already passed is non-tax assistance to the City.)  Legally, we must have a new City budget within the next few weeks.  In the limited time available, the budget just voted on may be the most practical way to prevent the implementation of most of the draconian cuts in our contingency budget.

“While we encourage cooperation among all those in Albany to help our City and State through these difficult fiscal times, the City cannot be put in a position of having new protracted negotiations and/or court challenges delay the already passed legislature’s critical aid for all 8 million New York City residents. We appreciate the efforts of all who care so much about our City, the Governor, the Majority Leader, the Assembly Speaker and all the legislators who have to stand up and make the difficult decisions that require foresight and courage.”





CONTACT:

Edward Skyler / Jordan Barowitz   (212) 788-2958


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