On Monday, New York City's rent stabilization laws will expire. If that happens, every one of the city's one million or so rent-regulated apartments will face massive rent increases as soon as their leases runs out. As Mayor de Blasio put it in a call with AARP members earlier today, "That means, literally, tens of thousands of people, maybe hundreds of thousands of people, will ultimately be displaced from their apartments. That's how bad it is."

The mayor added that the expiration "would be the beginning of the end of New York City as we have known it as a place for everyone. And so, that’s the stakes in Albany—that’s why it’s outrageous that anyone in Albany to say that there’s not enough time to get to a deal."

Governor Cuomo supports strengthening the rent regulation laws, and modifying vacancy decontrol, the measure that allows landlords to remove rent protections after meeting certain thresholds.

Senate Republicans aren't terribly concerned with this. They have instead turned their attention to saving 421-a, the tax abatement program that has given billions of tax dollars to developers for luxury housing with very little affordable units to show for it.

According to Capital, the Republicans are modeling their measure to save 421-a after Mayor de Blasio's plan to reform the tax break, minus a Mansion Tax and the mayor's aim to remove condos from eligibility. Developers would have to make 20 to 30% of their units affordable depending on where they build.

The governor supports keeping 421-a the way it is, and has argued that the legislature should pass an extension, at least until the finer points get hammered out (he has promised to extend the legislative term beyond its end on Wednesday until all this gets addressed). "421-a is a very complicated beast and it just doesn’t lend itself to throwing together a new program in several hours," Cuomo told reporters yesterday.

If all of this drains what little faith in our state government you might have, Assembly Democrats are having a "conference" on Sunday evening to address the laws. That should do it.