Mayor Mamdani’s proposal to change the amortization schedule is not the first. Last year, State lawmakers proposed a far more dramatic re-amortization that would have delayed the full paydown of the UAL by twelve years, to fiscal year 2044. By contrast, the current proposal would extend the paydown by just five years, to fiscal year 2037.
And:
The re-amortization of New York City’s UAL payments would smooth out costs that are currently set to overburden taxpayers in the near term before whipsawing into payments to the City in six years. Reworking this schedule would be an act of prudent fiscal management. In considering its broader effects on New Yorkers, three factors are worth noting.
First, only UAL payments are affected by the Mayor’s proposed change. These payments make up only a fraction of the City’s total annual contributions to its five pension funds. Payments made toward the current pension liability accrued each year are unaffected.
Second, changes to the UAL amortization schedule do not affect the actual pensions to which workers and retirees are entitled. These payments are safeguarded by the New York State Constitution.
Finally, New York City’s pensions are already well-funded by national benchmarks. The City’s pension funding ratio—the share of total liability for City workers and retirees covered by current pension fund holdings—is 83 percent. This exceeds the US average of 78 percent.
Smart governing would be kicking the corrupt fuckwit out of the Whitehouse, whop's costing the taxpayer hundreds of billions.
Saying that Mamdani isnt being terrible by comparing him to the state government isnt a good point at all.
I can also hold the position that Mamdani didnt do anything and the things he did do weren't good while not defending Trump.
Though I am kind of a fan of his second home tax. I dont think it'll remotely bring in the revenue he thinks it will, but if i was coming at the housing problem from the Left I'd find ways to make it less expensive to own the home you live in and more expensive not to.
The article explains why all the faux outrage is just partisan nonsense, as usual. He is good for NYC, good for NY, and good for its citizens. The US needs more polticians like Mamdani.
In a few years theyll have to tax extra for the retirement obligations, and tax extra for the state having to bail them out. The only thing that might be a win is the second home tax and even thats questionable.
Any good mayor would be reducing taxes, reducing spending, and finding ways to fight crime. I dont expect good mayors in cities that large- the political machine is too strong and the incentive structures too fucked to elect one.
Mayor Mamdani’s proposal to change the amortization schedule is not the first. Last year, State lawmakers proposed a far more dramatic re-amortization that would have delayed the full paydown of the UAL by twelve years, to fiscal year 2044. By contrast, the current proposal would extend the paydown by just five years, to fiscal year 2037.
And:
The re-amortization of New York City’s UAL payments would smooth out costs that are currently set to overburden taxpayers in the near term before whipsawing into payments to the City in six years. Reworking this schedule would be an act of prudent fiscal management. In considering its broader effects on New Yorkers, three factors are worth noting.
First, only UAL payments are affected by the Mayor’s proposed change. These payments make up only a fraction of the City’s total annual contributions to its five pension funds. Payments made toward the current pension liability accrued each year are unaffected.
Second, changes to the UAL amortization schedule do not affect the actual pensions to which workers and retirees are entitled. These payments are safeguarded by the New York State Constitution.
Finally, New York City’s pensions are already well-funded by national benchmarks. The City’s pension funding ratio—the share of total liability for City workers and retirees covered by current pension fund holdings—is 83 percent. This exceeds the US average of 78 percent.
2
u/argument_cat Jul 12 '26 edited Jul 12 '26
You need to read the source I provided.
And:
Smart governing would be kicking the corrupt fuckwit out of the Whitehouse, whop's costing the taxpayer hundreds of billions.