On April 8, 2021, Council Member Joseph Borelli (R-District 51) has announced the assemblance of a New York City Long-Term Economic Recovery Proposal, designed to meet the needs of addressing the City’s COVID-19 pandemic related revenue decline. The plan acknowledges the City’s current financial crisis, proposing some new and some not so unfamiliar ideas, combining bipartisan recommendations that have been long advocated for from New York elected officials throughout the years. Borelli’s suggestions include targeted objectives such as streamlining government services and effectively lowering budgetary costs, pushing for early retirement incentives, suspending fines for a limited time as restaurants begin to re-open, engaging in property tax reforms, increasing training and mentorship for skilled trades, and helping CUNY to partner with workers to transition into growth positions.
These suggestions have derived after concerns of the 2021-2022 State Budget, proposed by Governor Cuomo and the state legislature, which has committed to spending over hundreds of billion dollars in new expenditures. Borelli acknowledges that the federal aid from the recently passed stimulus legislation may act as a quick fix, but not as a long-term withstanding solution with its effects leaving potential detrimental impacts on the future of New York City residents.
Borelli said, “My proposal put forth today is an attempt to rein in the overspending of past budgets, which was leading us down a dangerous path even before the pandemic. This plan will lessen public spending, help alleviate some of the financial burden incurred by many of our residents and small business owners and help to stimulate our economy on multiple levels as we move forward and recover. Now is the time to come together for the good our of city to implement lasting change.”
Click the image below to download the full proposal
