TITLE

N.Y.C. Mayor Bloomberg Readies 'Doomsday' Budget

AUTHOR(S)
McDonald, Michael
PUB. DATE
April 2003
SOURCE
Bond Buyer;4/15/2003, Vol. 344 Issue 31615, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article focuses on the fiscal situation of New York City, New York. City Mayor Michael Bloomberg plans to unveil a $ 44 billion budget that threatens thousands of layoffs if the state government does not bow to pressure and help the city close a 2004 deficit projected to approach $4 billion. Bloomberg is expected to continue to insist on a commuter tax that would raise $1 billion in new revenue in 2004. As of March 30, 2003 the Independent Budget Office said property taxes have generated revenues of $9.5 billion in fiscal 2003 and the personal income tax $3.4 billion, both of which are basically on target.
ACCESSION #
9766434

 

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