The IBO released an analysis of City payments to nonprofit cultural organizations that may be the first such accounting of municipal investment in the cultural sector. The report details $727 million in payments made from the Expense Budget in Fiscal Year 2022.
Since January 2022, at least twenty-six people have died in custody in New York City’s jails, underscoring the persistent dysfunction and violence of the jail system and accelerating calls for more oversight of jail operations.
The 2021 Infrastructure Investment and Jobs Act marks one of the largest infusions of federal funding into the nation’s infrastructure of the last century. This legislation will invest $550 billion of new federal funding in transportation, clean energy, water quality, and broadband Infrastructure
IBO's review of the tax break, under Local Law 18 of 2017, was released as NYC Council is about to consider MSG’s DCP application to renew its zoning special permit. It also coincides with a reignited debate on the future of the beleaguered & over-capacity Penn Station that lies below MSG.