The fact of23 the matter is, after all of the work24 we've done --25 430 11/30/10 - WHOLE - BILL 1006351 COUNCIL PRESIDENT VERNA:2 Excuse me, Councilman.3 The Chair recognizes Councilman4 Goode for a point of information.5
May I ask6 Councilman Green a question?7 COUNCIL PRESIDENT VERNA:8 Certainly.9
Councilman10 Green, you said whatever number we have11 to plug in, we'll just plug in to make it12 revenue neutral, without regard to the13 impact on the industries.14
Well, the15 good news is, Councilman, that the16 Administration's current analysis17 shows -- we show a 5.33 mill.18
They show21 5.77. And the issue with that -- and it22 will be discussed tomorrow by Mr. Mullin23 and Mr. Dubow -- is that the24 Administration -- but the point is, if it25 431 11/30/10 - WHOLE - BILL 1006351 was 5.77 and that was based on 20152 numbers in terms of the Administration's3 own five-year estimate, I would say that4 this would have the same positive5 economic impact on the City.6
That's not7 my question. My question is, we've8 already had testimony against the bill,9 people who were against it at 5.3 and the10 impact it's going to have.11
The impact14 it's going to have. So to them it's15 obviously going to have an even worse16 impact at 5.77.17
Absolutely18 correct. And it will -- absolutely19 correct. I'm not -- I'm not arguing the20 point. You're right.21
So with24 respect to that, I just want the Chamber25 432 11/30/10 - WHOLE - BILL 1006351 to be aware of what the actual data2 differences are. The Administration used3 2008 data, not 2015 data, where they have4 a much higher base of total receipts in5 the City in order to come up with that6 calculation in their own five-year7 revenue estimates. So we are waiting for8 data from the Administration as to what9 the tax would have to be in 2015, not the10 2008 numbers they used. We are not11 capable as a body of producing that12 information. So if they never produce13 it, either because they can't figure it14 out or for some other reason, then we15 can't stop a process that's been a16 two-year process because the17 Administration, with over 300 people in18 Revenue and Finance, won't provide that19 to us.20 So it's not -- we want the21 data. We want to agree on the data. We22 began this process trying to agree on the23 data, and I just want to say, I share24 your goals with respect to that ultimate25 433 11/30/10 - WHOLE - BILL 1006351 happy place where we agree on the data2 and we can just debate the policy.3
Thank7 you.8 Are there any other questions9 from members of the Committee?10 (No response.)11 COUNCIL PRESIDENT VERNA:12 Gentlemen, thank you.13 MR. McPHERSON: We have written14 testimony --15 COUNCIL PRESIDENT VERNA:16 You've been extremely patient. We do17 appreciate it.18 MR. McPHERSON: We have written19 testimony that was left by David C.20 Thomsen.21
Do we22 have anyone else to testify on this bill?23 (No response.)24 COUNCIL PRESIDENT VERNA:25 434 11/30/10 - WHOLE - BILL 1006351 Seeing no one, the Committee will stand2 in recess until 1 o'clock tomorrow.3 Thank you very much.4 (Committee of the Whole5 adjourned at 5:40 p.m.)6 - - -7 8 9 10 11 12 13 14 15 16 17 18 435 CERTIFICATE2 I HEREBY CERTIFY that the3 proceedings, evidence and objections are4 contained fully and accurately in the5 stenographic notes taken by me upon the6 foregoing matter on November 30, 2010, and7 that this is a true and correct transcript of8 same.9 --------------------14 MICHELE L. MURPHY15 RPR-Notary Public16 (The foregoing certification of this20 transcript does not apply to any reproduction21 of the same by any means, unless under the22 direct control and/or supervision of the23 certifying reporter.)24