High Electric Bills, Expensive Pensions and Uncertain Property Taxes — What's Next for New York's Taxpayer
In this episode, we talk with Ken Girardin, our colleague at the Manhattan Institute who covers New York tax, pension, energy, and labor policy, about two very expensive problems New York is wrestling with right now that don’t get nearly enough attention.
The first is the push to roll back the 2009 and 2012 pension reforms, known as “Fix Tier 6,” which could add billions per year to public employer costs and blow a hole in Mayor Mamdani’s budget before he’s barely gotten started. (Excerpt below).
Public sector pensions are indeed most generous, as Ken writes below:
The other is the 2019 Climate Act, which effectively paused private energy investment in the state and left New York increasingly dependent on aging power plants and at risk of more frequent blackouts.
More on all that and the politics behind it in the full episode below.
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