New York, NY – New York City Comptroller Mark Levine released the following statement in response to Moody’s Ratings revising the City’s outlook from “stable” to “negative.” “Moody’s decision to revise New York City’s outlook to negative is a sobering wake-up call about the fiscal challenges ahead for us. It is the first negative outlook the City has received since the COVID crisis. The fact that this is happening at a time of relative health in our local economy is all the more remarkable. The underlying challenge is clear:...
New York, NY – Today, New York City Comptroller Mark Levine released his office’s updated analysis of New York City’s Preliminary Budget for Fiscal Year 2027 and Financial Plan for Fiscal Years 2026–2030 and testified before the City Council. Comptroller Levine commended the administration for presenting an inaugural budget that provides a more transparent and complete accounting of City spending, marking a significant departure from prior practices that understated the full cost of City programs. However, the analysis identifies three major concerns: First, reoccurring City expenses are higher than reoccurring revenues, a structural imbalance that puts the City’s...
Speaker Menin, Chair Lee, and members of the Finance Committee and City Council, thank you for the opportunity to testify on the Mayor’s Preliminary Budget and Financial Plan. I am pleased to be joined today by Executive Deputy Comptroller for Budget and Finance Francesco Brindisi and Deputy Comptroller for Budget Krista Olson. Councilmembers, I had the pleasure of sitting where you are for eight years, and of continuing to follow the budget closely in the four years since. I can...
New York, NY – Today, New York City Comptroller Mark Levine announced that four of the New York City public pension funds have settled their lawsuit against telecommunications giant AT&T for unlawfully excluding the Funds’ shareholder proposal ahead of the company’s upcoming annual general meeting. The lawsuit challenged AT&T’s decision as an unlawful attack on investor rights at a time of heightened concern over attempts to silence investor voices. AT&T has agreed to include the proposal filed by the New York...
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