Fiscal year budget for 2020-21.

Fiscal year budget for 2020-21.  New York State recently enacted its State fiscal year budget for 2020-21. It was based on several assumptions and included several provisions relating to borrowing by the State to provide a source of funds for in the upcoming fiscal year. The article below describes most of the debt related provisions included in the budget. What are the three primary reasons that State and local governments borrow? What are the two types of debt which is utilized? What is the difference in growth rate between the two? Using the article below give me an example of each type of debt, and what reason they support. Do you agree with further increasing our debt burden? Support your position. Alternatively, if you do not agree with these choices, defend your position, and offer alternatives for revenues that the State should consider. (8) Please provide an overview of the role of the Federal Government in Transportation Financing (as it relates to State & Local Governments). What funding streams are used to finance these projects? What is the basis for the difference in level of funding between transportation modes (highways, mass transit, rail, air & water)? Identify the rationale behind the Federal government’s level of involvement historically. What are the current transportation issues facing New Yorkers (specifically those downstate in the NYC metropolitan region)? How will the current economic crisis affect these revenues? What additional issues do you foresee in the future?

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