Unions concerned that NYC's borrowing request could trigger contract woes: labor sources
For months, NYC Mayor de Blasio has been demanding that the state grant the city more borrowing power to avert tens of thousands of imminent layoffs.
His argument is that without immediate federal aid, which is unlikely under the Trump regime, the city will need to borrow more cash to support daily operating expenses such as teachers’ salaries and trash pick-up at a time when the city’s budget is strained to its breaking point.
City Council Speaker Corey Johnson is backing Hizzoner’s efforts, and de Blasio claims that the city’s labor unions are behind him too.
“The labor unions are deeply involved in the effort too to get long-term borrowing,” de Blasio said Friday. “There is a lot of energy in this effort right now.”
Read more: https://www.nydailynews.com/news/politics/ny-de-blasio-labor-unions-cuomo-borrowing-financial-control-20200829-fqzwdw6gqbdltjrc2nh2g6s6zi-story.html