While 421-a Affordable New York has expired, talks on the future of the city’s largest tax expenditure continue. IBO examined how many affordable units it created since its start through June 2021, what incomes they serve, and how many received other subsidies.
Testimony focused on the Metropolitan Transportation Authority’s deficit relief as proposed in the New York State 2024 State Executive Budget and on the financing of the Penn Station Revitalization Plan
For the first time since 2007, Moody’s Investors Service has upgraded the City of New York’s General Obligation Bond credit rating. The rating was upgraded from Aa2 to Aa1, their second highest rating and equivalent to New York State’s Aa1 rating.
On October 1, 2018, New York state "raised the age" of criminal responsibility, changing the way that the justice system handles 16- and 17-year olds who have been arrested. This new sets of laws, policies, and procedures has resulted in fewer young people facing adult prosecution.