E.J. McMahon

A Five-Year Plan to Eliminate New York's Structural Deficit?

April 19, 2010

Lieutenant Governor Richard Ravitch has outlined a five-year financial plan under which New York State would be required to achieve and maintain structural budgetary balance. Leaders in the state Senate and Assembly have offered their own proposals for budget reform. This Institute forum brought together leading members of the Senate and Assembly majorities, and independent fiscal experts, to comment on the plan. McMahon supported Ravitch’s call for expanded gubernatorial power to reduce spending when midyear budget gaps arise, but argued against other elements of the plan, including proposed creation of an independent review board.

Video of Senator Liz Krueger
Video of Assemblyman Herman D. Farrell
Video of Q&A session following presentations by Krueger and Farrell

Video of Elizabeth Lynam, deputy research director of the Citizens Budget Commission
Video of Frank J. Mauro, executive director of the Fiscal Policy Institute
Video of Q&A session following presentations by Lynam, McMahon and Mauro

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