New York Lieutenant Governor Richard Ravitch Unveils Five Year Fiscal Reform Plan

On March 10, 2010 New York Lieutenant Governor Richard Ravitch released a fiscal reform plan which calls for a five-year plan to eliminate the State’s structural imbalance and introduces a process by which annual budget balance is mandated, minitored and maintained. The plan calls for up to $2 billion in borrowing for the next three years and a financial review board consisting of five members, one each from the Assembly and the State Senate, two appointed by the Governor and one appointed by the New York State Comptroller.:

Ravitch Fiscal Reform Plan- Full Text

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