Archive for October 20th, 2006

20th October
2006

First Published in The New York Sun, October 20, 2006

By Andrew Wolf

When he is not busy measuring the windows in the governor’s residence for new drapes, Attorney General Eliot Spitzer is calculating just how deep into New York City taxpayers’ pockets he can reach to help fund a “settlement” of the Campaign for Fiscal Equity lawsuit. Barring the miracle of the Court of Appeals rejecting the premise on which litigation such as this is based, New Yorkers can expect this to be costly. There is, however, another choice.

If one figures at $5 billion annually, it is likely that Mr. Spitzer will insist that the city pick up somewhere between 30% and 40% of the tab. According to published reports, he is likely to tie the CFE issue to the mayor’s continued control of the city’s public schools. This has become the “holy grail” to Mayor Bloomberg.The state doesn’t have this money, particularly if we accept Mr. Spitzer’s word that he won’t raise taxes. (more…)