What's New

Zack Hutchins
Director of Communications

March 9, 2004

Top fiscal watchdog group proposes sweeping budget reform

A prominent New York State watchdog group has urged lawmakers to adopt 10 key budget changes that would reform the budget process and improve the state's fiscal prudence.

The Citizens Budget Commission (CBC) said its 10 budget reforms, which it dubbed "the Palisades Principles," are "more comprehensive than any proposed by state leaders so far."

"The budget is incomprehensible to the lay citizenry; the process is impenetrable even to most legislators; and the end result is unchecked spending, excessive debt, and burdensome unfunded requirements on local governments," CBC said in a release.

"New York's local tax burden remains the worst in the country; New York's credit rating is among the lowest in the nation. These 10 reforms are crucial to achieving better fiscal practices."

Under the 10 proposed reforms, New York State would:

The proposed reforms emerged from a two-day conference CBC organized last December.

For details on the proposals, visit www.cbcny.org.