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Mayoral Issue Grid: Jobs



Mayoral Issue Grid

JOBS

-Top Priority

Although the city’s economy has recovered since the months after the terrorist attacks of September 11, 2001, an estimated 230,000 New Yorkers are unemployed. African-American and Latino males have a particularly difficult time finding a job; 40 percent are unemployed.

The Democratic candidates are focusing most of the attention on small businesses. Small businesses account for 50 percent of all New York City private-sector jobs and generate $4.5 billion in annual city tax revenues.

Fernando Ferrer

To help small businesses, Fernando Ferrer proposes a three-month amnesty program to give small businesses the opportunity to pay outstanding fines. He plans to provide real estate assistance, micro-loans, and new programs for women and minority-owned businesses.

He also plans to form a small business advisory council that reports to the mayor, deputy mayor for economic development, and commissioner of the small business department. The panel would make recommendations and proposes policy.

(Read Ferrer’s small business plan)

Michael Bloomberg

Michael Bloomberg says he has created 62,000 jobs since July 2003.

He has given tax credits to large corporations like Time Warner, Hearst, the New York Times, and Goldman Sachs to encourage them to build new headquarters in Manhattan.

Bloomberg believes tourism – which is at record levels – is a main engine for job growth.

He has undertaken development projects in Brooklyn, Queens, and Harlem to spur new construction and job growth.

To help small businesses, he opened satellite small business services in each of the five boroughs that offer assistance to owners.

(Read Bloomberg’s job platform)

RELATED ARTICLES:
- Debating Jobs and Economic Development
- In Big Projects, Where Do The Jobs Go?
- Tourism and Jobs

 

Mayoral Issue Grid: Finance



Mayoral Issue Grid

FINANCE

New York City’s annual budget will pose a problem for the next mayor. Experts project that the city will face a $4.5 billion deficit in each of the next two years. If the mayor cannot reduce spending, he or she will be forced to raise taxes or generate revenue from fees, fines, or tickets. The property tax is the only tax the mayor and City Council can raise without the approval of the State Legislature.

Fernando Ferrer

To reduce the city’s projected budget deficit, Fernando Ferrer says that he will eliminate loopholes in the tax code that he says costs the city $2 billion a year. He also promises to fight for more funding from Albany, particularly Medicaid payments. Ferrer also believes that the commuter tax should be reinstated, which would require the approval of the State Legislature.

While Ferrer says he will not raise taxes to balance the budget, he has proposed a stock transfer tax to help raise $1 billion for education.

Ferrer has not outlined any proposed tax cuts.

C. Virginia Fields

To reduce the city’s projected deficit, C. Virginia Fields says she will reform the city’s tax code and work toward 100 percent collection of taxes. Fields also believes that the commuter tax should be reinstated, which would require the approval of the State Legislature.

Fields says that “increasing taxes harms our economy” and does not plan to raise taxes to balance the budget.

She opposes an income tax increase and a tax on Wall Street stock transfers.

Fields has not outlined any proposed tax cuts.

A. Gifford Miller

To reduce the city’s projected deficit, Gifford Miller says that the mayor must do more to fight for New York City’s “fair share from Washington and Albany.” City taxpayers currently pay $24 billion a year more in taxes than they receive in services from the state and federal government. Miller also proposes a commuter tax of 1.1 percent, which would require the approval of the State Legislature.

While Miller does not want to raise taxes to balance the budget, he has proposed an income tax surcharge on New Yorkers who make more than $500,000 a year to help reduce class size.

He opposes the idea of a tax on Wall Street stock transfers.

Miller has proposed doubling the Earned Income Tax Credit for low income New Yorkers. He also wants to give a renters tax credit to all households that make under $100,000 a year.

Anthony Weiner

To reduce the city’s proposed budget deficit, Anthony Weiner promises to cut $1 to $2 billion a year from the worst-performing city agencies. Weiner also wants to sell government property through an open bidding process, which he says will generate more revenue. He also says he will fight for more aid from Albany and Washington.

Weiner proposes increasing income taxes for those who make more than $1 million a year.

He opposes taxing Wall Street stock transfers.

Weiner has proposed a 10 percent income cut for those making $150,000 or less. (Read Weiner’s tax plans)

Michael Bloomberg

Michael Bloomberg says that the city’s budget can be divided into two parts: the spending that the city controls and the spending mandated by the state.

Bloomberg argues he has taken steps to reduce the budget where he can, cutting $4 billion from the budget and reducing the city’s workforce by 15,000 employees.

The city’s projected deficits, he says, are a result of things out of the city’s control, like Medicaid and pensions. He supports Medicaid reform and worked to reduce pension costs.

Although he raised taxes in the past, Bloomberg opposes increases in the income taxes or a tax on Wall Street stock transfers.

RELATED ARTICLES:

- 10 Budget Choices Facing The Next Mayor
- The Mayoral Candidates on Budgets, Taxes and Spending (Forum)
- $50 Billion Budget -- A Shortsighted Use Of Surpluses
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Mayoral Issue Grid: Jobs



Mayoral Issue Grid

JOBS

-Top Priority

Although the city’s economy has recovered since the months after the terrorist attacks of September 11, 2001, an estimated 230,000 New Yorkers are unemployed. African-American and Latino males have a particularly difficult time finding a job; 40 percent are unemployed.

The Democratic candidates are focusing most of the attention on small businesses. Small businesses account for 50 percent of all New York City private-sector jobs and generate $4.5 billion in annual city tax revenues.

Fernando Ferrer

To help small businesses, Fernando Ferrer proposes a three-month amnesty program to give small businesses the opportunity to pay outstanding fines. He plans to provide real estate assistance, micro-loans, and new programs for women and minority-owned businesses.

He also plans to form a small business advisory council that reports to the mayor, deputy mayor for economic development, and commissioner of the small business department. The panel would make recommendations and proposes policy.

(Read Ferrer’s small business plan)

C. Virginia Fields

C. Virginia Fields promises to use the city’s $18.8 billion in annual spending to help small businesses grow. She proposes giving a specific percentage of city contracts to small businesses. She also wants to provide loans and provide training in entrepreneurship.

Fields also wants to grow the biotechnology industry, offering tax incentives for new companies to do research in the city.

(Read Fields’ business plan)

A. Gifford Miller

Gifford Miller points to his efforts as Speaker of the City Council in creating job training programs, workforce protections, and the “Living Wage” bill, which requires certain city contractors to pay their employees $8.10 an hour, rising to $10.00 per hour by July 2006.

Miller promises to cut taxes for small businesses and expand tax credits for industries in the outer boroughs. He says that the foundations of economic growth are “great neighborhood schools, reliable transportation, and flourishing small businesses.”

Anthony Weiner

Anthony Weiner wants to reduce tickets and fines for small businesses. He also wants to create an ombudsman position at the Department of Business Services to help small business owners.

He would create a $10 million micro-loans program, which gives low interest loans of $100,000 to $200,000 to emerging businesses.

Weiner also promises to increase subsidies for businesses outside of Manhattan. He would require that at least 25 percent of all Economic Development Commission funds be distributed to the boroughs on an equitable basis, by jobs per borough, or population.

He also wants to create a “ShopNYC.com” Web site to help small businesses sell their goods on the Internet.

(Read Weiner’s economic development plan)

Michael Bloomberg

Michael Bloomberg says he has created 62,000 jobs since July 2003.

He has given tax credits to large corporations like Time Warner, Hearst, the New York Times, and Goldman Sachs to encourage them to build new headquarters in Manhattan.

Bloomberg believes tourism – which is at record levels – is a main engine for job growth.

He has undertaken development projects in Brooklyn, Queens, and Harlem to spur new construction and job growth.

To help small businesses, he opened satellite small business services in each of the five boroughs that offer assistance to owners.

(Read Bloomberg’s job platform)

RELATED ARTICLES:
- Debating Jobs and Economic Development
- In Big Projects, Where Do The Jobs Go?
- Tourism and Jobs

 



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