Citizens Budget Commission

"NYC should be setting aside more money for its Rainy Day Fund, to cover expenses in the event of an economic downturn."—Andrew Rein, CBC President, on the NYC FY2025 budget agreement, to Spectrum News https://lnkd.in/e3nJFDjF

The Adopted Budget adds $1.3B for new and existing programs, pleasing many NYers. But city leaders failed to ensure sustainability, efficiency, or save for a rainy day. CBC’s early analysis shows three key points: https://lnkd.in/eidz-Q-v

The housing undersupply in NYC affects the regional and national economy. Studies find that housing underproduction in superstar cities like NY reduce GDP by 2%. Building more housing would grow the City’s economy and significantly boost City tax revenue. Read more: http://bit.ly/4eRB2Ob

Housing underproduction in NY limits mobility, contributes to outmigration, and hampers economic growth: https://lnkd.in/gtF7wdBY

NYC renters are 41% less likely to move than other Americans. Why? NY’s housing laws encourage stability + slow housing growth = fewer homes available. The result? Overcrowding to afford the rent or undercrowding b/c moving would increase costs. Read our new report to learn more: https://lnkd.in/eutNmK3J

CBC's Andrew Rein and Ana Champeny detail 5 ways to modernize New York City’s fiscal and operational management in Vital City: https://lnkd.in/eHaR2VKY

Over half of New Yorkers rate fire protection and household garbage pickup positively. But only 30% rate overall quality of life in NYC as excellent or good—a significant decline from 50% in 2017. NYC First Deputy Mayor Sheena Wright comments on the findings from CBC’s Resident Survey: Straight from New Yorkers Listen to the new What’s The [DATA] Point? episode here: https://lnkd.in/gqvcqMuu

“Under-budgeting has increased to an unprecedented level...The integrity of the budget’s estimates, the public’s belief that budget issues are real, and the fiscal stability of the city are all at risk.”—Andrew Rein https://lnkd.in/giq8XKYD

An amazing, insightful panel discussion for CBC Trustees and New Leaders: How AI will Change NYC’s Economy and Government. Great thanks to CBC Trustee/Moderator Ana Rua from Crown Castle, and our experts: Rohit Aggarwala, DEP Commissioner; Joseph Dooley Google AI Strategy and Policy Lead; and CBC Trustee Deborah Snyder from Accenture. And Civic Hall for hosting in their great space!    Thank you to all our panelists for sharing their valuable insights and to all who attended. #AI #NYCEconomy #Innovation #Technology #AINYC 

NYC First Deputy Mayor Sheena Wright joins CBC on NEW What’s the [Data] Point? episode to discuss 2023 Resident Survey results and the City's priorities: https://lnkd.in/e3wfgZAN