The Independent Budget Office today released a new edition of Budget Options for New York City, evaluating nearly 60 options that could help close the city's budget shortfall. The measures presented in the report range from revising the personal income tax to make it fairer and generate more revenue to cutting certain dental and transportation services for Medicaid recipients to eliminating a paid holiday for city workers.
"With the city facing significant fiscal pressures, IBO's report can help New Yorkers determine what they think are some of the best options for closing the budget gap," said IBO Director Ronnie Lowenstein. "For each of the options considered in this report, we calculate the anticipated savings or revenue and provide arguments for and against implementing the measures."
Many of the options presented in this report have been suggested publicly by current and former elected officials, policy and fiscal experts, and civic and advocacy organizations. Some other measures examined here were suggested by IBO's own staff. Regardless of its source, each budget option underwent the same thorough and impartial analysis.
The options included in this report are by no means exhaustive. The report's inclusion—or omission—of specific budget options does not reflect an assessment of their viability or desirability.
Budget Options for New York City is available on IBO's Web site at www.ibo.nyc.ny.us. A free, printed copy of the 66-page report can be obtained by calling 212-442-0632.