Tax Cap Monte: Keep Your Eyes on the Union
While everyone is following New Jersey's public union bombshell vote, my friend E.J. McMahon of the Empire Center in Albany reports on a new maneuver by the New York State United Teachers to end run? the property tax cap being promoted by new Governor Andrew Cuomo.? ?As McMahon says, the cap is not even through the state legislature yet and NYSUT is trying to circumvent it:
An egregious fiscal abuse on its own terms, the bill (S.4067-A) would allow school districts across the state (except for New York City) to issue 15-year bonds to cover a portion of their rising teacher pension costs over the next several years ? at least $1 billion in all, by one estimate.? The measure was introduced two months ago at the behest of the New York State United Teachers (NYSUT) as a way of reducing pressure on teachers to make contract concessions.
The drama in Albany continues.
--Peter Meyer, Bernard Lee Schwartz Policy Fellow