Created in 1970, the New York State Department of Environmental Conservation (DEC) is responsible for most of the State’s programs to protect wildlife, natural resources and environmental quality.
This year marks the 25th anniversary of the legislation that created New York State’s Environmental Protection Fund (EPF) – a development well worth noting. The Fund is one of the State’s most important vehicles for making capital investments to preserve open space, protect water quality, and improve parks and waterfronts all across New York.
The United States is slowly recovering from the worst recession in decades, which was precipitated by high-risk lending practices.
The federal government has been operating under Continuing Resolutions since the start of the new federal fiscal year that began October 1, 2010. Despite ongoing efforts between the President and Congress to reach agreement on a federal budget, taxpayers face the threat of the first federal government shutdown since 1996.
Debt is an essential financing tool for State and local governments. The infrastructure citizens rely on—roads, bridges, schools, hospitals, universities, housing and mass transit—is made possible through the issuance of debt.
New York State has relied far too heavily on debt for far too long. Ten years after enacting legislation to slow the growth in borrowing and end the use of debt for fiscal gimmicks, New York continues to rely heavily on debt. A
Longstanding concern over New York’s high debt levels, debt service costs, and imprudent use of borrowing led the Legislature to impose limits on State debt and enact related reforms in 2000.
Across New York State, we hear calls for investment in essential public infrastructure.
On any given day, millions of New Yorkers ride the subway or drive on public roads; public school buildings and facilities on college campuses open their doors to students across the State; essential services are provided at water plants, other environmental facilities and in homes for developmentally disabled individuals and psychiatric centers; individuals reside in publicly-supported housing; and citizens enjoy the outdoors at public parks.
New York State is facing extraordinary challenges as a result of the coronavirus pandemic. Its punishing impacts include shutting down much of the economy, throwing millions of Americans out of work, and devastating State finances.
