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New York, New York
March 26, 2004

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Partnership Releases Advocacy Agenda

City's Structural Budget Deficit, Expansion of Javits Center and Extension of No. 7 Line Cited as Top Priorities for Business Community

The Partnership for New York City, the city’s largest business organization, today released its 2004 Advocacy Agenda, which outlines its positions on policies and projects that business leaders believe will best advance the goals of stimulating economic growth and job creation in the five boroughs.

In the Advocacy Agenda, the Partnership states its support for Mayor Bloomberg’s balanced budget plan for FY 04-05, which includes no new major tax increases, proposes reform of public employee pensions and requests $700 million in additional state and federal aid.

“Public employee pensions, Medicaid and other fixed expenditures over which the city has no control are growing faster than the economy and impose a crippling financial burden on the city,” said Kathryn S. Wylde, president of the Partnership. “The business community is actively supporting Mayor Bloomberg’s request for mandate relief and increased aid from the state and federal government, while the city holds the line on discretionary expenditures.”

Another top priority cited by the Partnership is the rezoning of the Far West Side of Manhattan, anchored by expansion of the Jacob K. Javits Convention Center. Critical to the success of this plan is the extension of the Number 7 subway line to Eleventh Avenue.

“Expansion of the Javits Center will create thousands of new jobs and provide an important boost to the city’s tourism and entertainment industries,” said Wylde.

Among the other highlights of the Partnership’s 2004 Advocacy Agenda are:

New York State Fiscal Year 04-05 Budget
The Partnership supports Governor Pataki’s efforts to balance the State budget without broad based tax increases through a 5% across-the-board cut for agencies and actions to contain Medicaid cost increases.

New York State Corporate Taxes
The Partnership strongly opposes any stock transfer tax and other increases in state corporate taxes. Enacting these proposals would drive trading activity and jobs out of New York and adversely affect the state’s business retention programs and overall competitiveness with other states.

State Education Aid
The Partnership continues to advocate additional state aid to address the inadequacy of funding for New York City’s public schools, which have long been disadvantaged in comparison to other school districts in the state. This year, the funding of a capital construction program to modernize facilities, reduce class size and acquire new equipment is the top priority. The Partnership also supports the approach of the Zarb Commission, which recommends linking increased funding to greater accountability and other reforms in the education system.

Additional Partnership priorities include:

• East Side Access, which would bring the Long Island Rail Road into Grand Central Terminal;
• Reform of State Medicaid as a means of containing costs and more effectively providing for long term care;
• Renewal of Article X legislation governing siting of power plants;
• Passage of Coordinated Construction Act for Lower Manhattan;
• Extension of the Liberty Bond program through 2009;
• Increased share of federal Homeland Security and transportation funding to New York City.

Several important legislative initiatives for 2004 have emerged in the past few weeks that will likely be added to the Advocacy Agenda by the Partnership's Legislative Policy Committee. The Governor's recent proposal to reform the workers' compensation system is consistent with the Partnership's position that any benefit increase should be linked to system improvements. The Partnership is also studying proposals developed by Governor Pataki, State Comptroller Hevesi and Attorney General Spitzer for reform of public authorities and expects to endorse those proposals that are consistent with corporate governance standards being adopted by private industry.

Copies of the Partnership for New York City 2004 Advocacy Agenda are available online at www.pfnyc.org.

The Partnership for New York City (www.pfnyc.org) is a network of business leaders dedicated to enhancing the economy of the five boroughs of New York City and maintaining the city’s position as the global center of commerce, culture and innovation.