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News
No Easy Way Through Financial Crisis for City
by Kathleen Horan
NEW YORK, NY January 30, 2009 —Mayor Bloomberg made his preliminary proposals on how to close the massive budget deficit going forward.
If his cuts are approved, more than 300,000 jobs will be lost in New York City by next year. The mayor also wants to raise the sales tax.
Kathryn Wylde of the Partnership For New York City says as consumers pinch more pennies that's hard to take.
WYLDE: And particularly an expansion of areas we are not used to having sales tax on so I can't say that's easily digestible. On the other hand neither would be an income tax increase, so there are no good solutions.
REPORTER: The city sales tax would rise from 8.375 to 8.625 percent if Bloomberg's preliminary budget is approved.
Vote 2009
WNYC provides analysis of the characters and debates of those running for mayor, comptroller, public advocate, district attorney and City Council. Share your election story or gripe and post your comments on the news blog.
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Financial 411
WNYC's Amy Eddings hosts a daily overview of financial news at 4:30 weekdays which is available via podcast, with highlights from the day and a preview of what you can expect tomorrow.
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Main Street NYC
WNYC is following five blocks over the next year to see how the economic downturn is being experienced on the street level.
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Uncommon Economic Indicators
The Brian Lehrer Show is keeping a close eye on how the economy is affecting the little things in daily life. Share your stories and photos of the downturn.
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