The city’s Independent Budget Office has some ideas for incoming Mayor-elect Bill de Blasio to boost revenue and save cash as he prepares to take the reins of City Hall.
As part of its annual wish list, the group has suggested boosting the city’s tax rate on alcohol–and adding new tax on wine–to rake in nearly $50 million in extra revenue a year.
Hurricane Sandy, which wreaked havoc on good portions of New York State, clearly won’t be cheap to clean up, and Gov. Andrew Cuomo has avoided giving a specific number to the costs.
In a letter to President Barack Obama requesting maximum compensation from the federal government, however, Mr. Cuomo said the loss of economic activity alone in the state would yield “up to $6 billion in lost economic revenue in the greater metropolitan area and the State due to the severe disruption of business in the world’s leading financial hub and the largest port on the northeastern seaboard.”