Palladino explains vote - voting no, fiscal concerns over spending and taxes

Palladino.

Permission to explain my vote.

Permission granted.

I've been a member of the City Council for nearly five years, and until now, I voted yes on every city budget.

None of these budgets were perfect.

Each of them contained many things I disagreed with.

But this isn't about demanding perfection.

It's about making responsible decisions and choices that lay in front of us.

Unfortunately, this year is different.

This year I have to vote no.

Even by the standards of our dysfunctional city government, this budget represents a complete departure from the fiscal reality.

It spends more money than New York City has ever spent at precisely the moment that we could least afford it.

This is the largest single year increase in spending history.

It depends on new taxes from Albany, pension deferrals, budget bailouts from the governor, and even the revenue projections are optimistic.

This isn't a balanced budget.

This is budgeted by a bailout.

It's a ticking time bomb.

And the beginning of a fiscal death.

spiral that our current leadership will not be able to pull us out of because we lack both the experience and the seriousness in which to do so.

What will we do next year and then the year after that?

The only sustainable way to support a higher spending is through sustained economic growth by retaining the supporting businesses, encouraging private investment, and expanding our tax base.

Instead, we are doing the exact opposite.

We are actively chasing out the very people we need most with political stunts and threats that alienate entire sectors of our economy while we nickel and dime the working class people.

The middle class, the financial sector, the businesses of all sizes are choosing to go elsewhere, and they are being replaced with low-income foreigners and transplants that require significant subsidy

just to survive.

No, we waited five hours.

No, Councilmember.

I'm sorry.

Let me just finish up my one thing.

One thing.

Let me get this out.

Okay?

Councilmember, your time is up.

Please tell us how you're going to vote.

My time is up.

We waited five hours to speak today.

Please mute her mic.

Please mute her mic.

Thank you.

Let me just say this.

We need simple things.

Okay.

I've been consistent with everyone tonight.

Very consistent.

Please keep it down in the gallery.

If not, you have to be removed.

Please keep it down in the chambers, please.

Councilmember Palladino, how are you voting, Councilmember?

Councilmember Palladino, how are you voting?

Oh, no, and I want to vote no on intro 31A, intro 92A, reso 529, resos 530, 531, 532,

preconsidered resos 534, 535, preconsidered resos 539, 540, M69, preconsidered resos 543, M74, preconsidered reso 544, M80,

preconsidered resos 545, M81, preconsidered resos 546, and M82.

Thank you.