In accordance with the requirements of the New York State Municipal Assistance Corporation Act and the New York State Financial Emergency Act, the City of New York is required to submit monthly financial reports. In accordance with the requirements of the New York State Municipal Assistance Corporation Act and the New York State Financial Emergency Act, the City of New York is required to submit monthly financial reports.
In accordance with the requirements of the New York State Municipal Assistance Corporation Act and the New York State Financial Emergency Act, the City of New York is required to submit monthly financial reports. In accordance with the requirements of the New York State Municipal Assistance Corporation Act and the New York State Financial Emergency Act, the City of New York is required to submit monthly financial reports.
The IBO has modeled five scenarios and how each would alter the amount of federal income taxes paid by New Yorkers in 2013. For each of the five possible outcomes considered, IBO estimates how much in income
taxes would flow from the city to the federal treasury as well as how the amounts owed by New Yorkers at various income levels are affected.
New York City's debt has grown from $2,951 per capita in fiscal year 1990 to $9378 by fiscal year 2012, an increase of 218 percent. While New York City has a large amount of outstanding deby and great
capital needs, its credit rating remains strong.