Bloomberg Avoids Third-Rail Issues To Cut Budget Deficits

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More belt-tightening from City Hall: Mayor Bloomberg released a 72-page report detailing his office's plans to stem next year's projected budget gap of $4.6 billion. Though some fees will be considerably higher, according to the Post, the measures avoid the third-rails of teachers layoffs and cutting back the NYPD's numbers.

Parking in Manhattan will go up by a dollar an hour to $4, $9 for two hours and $15 for three hours, to which we say, "Awesome." And the city will stop paying for nicotine patches, which should surely help out small businesses. Ambulances will cost more, however, and elevator inspection fees are going to be tripled to $3,000 apiece. Will that encourage building owners to keep their elevators in tip-top shape or will that just make them put off getting their elevators inspected? Something to ponder the next time you're on an elevator!

$285 million will be saved through refinancing municipal debt, and $1 billion will be raised by selling new taxi medallions if the state approves that plan. See, Washington? Balancing the budget is easy. Don't make Dad come down there again.

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By Christopher Robbins in News on November 19, 2011 5:40 PM

Comments [rss]

AndySydor

I have a suggestion. Bloomberg came in with $4 billion. He's now worth, what now? $25 Billion? Since that money obviously came from developers buying Bloomberg subscriptions by the mega-score and then getting permits and tax breaks in return, why doesn't he just take the $21 billion he stole and put it back in the City budget?

setecq

This writeup treats as an afterthought the idea of making $1 bil by selling medallions. The state would need to approve that, as noted, but I wonder how many people would oppose it (especially those invested in the scarce medallions currently in service).

Phillip Roncoroni

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