Spin Cycle

News, views and commentary on Long Island, state and national politics

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Lawmakers, analysts cite doubts on Cuomo LIPA proposal

State lawmakers who have key influence over whether Gov. Andrew M. Cuomo’s “privatization” proposal for LIPA ever sees the light of day are expressing sharp skepticism about it, as Newsday’s Mark Harrington details today.

Harrington writes: “Even before Cuomo formally announced the plan to sell off LIPA's assets to a private company and make LIPA merely a "holding company," longtime LIPA watchdogs in the legislature said a fully municipalized LIPA needed to be explored seriously. In the days since, the option appears to be winning advocates.”

That story is linked here.

Also, Crain’s last week quoted utility analysts saying that selling LIPA to a private for-profit corporation would require the state assuming at least $4 billion of its debt – a big burden for the state to take on in its current fiscal straits.

That story is linked here.

 

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Which was the most fevered lunge for self-promotion by a power player?

Rep. Michael Grimm saying he can continue to serve despite pleading guilty to felony tax fraud. House Minority Leader Nancy Pelosi calling on the GOP to push Grimm out. House Speaker John Boehner (R-Ohio) declining to comment until he meets with Grimm.

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