Biography
A candidate for State Assembly with Unrivaled Experience
David I. Weprin’s credentials to serve residents of the 24th Assembly District and our City and State remain unsurpassed. And 24th A.D. residents expect and deserve nothing less than proven excellence.
Distinguished Public Service at the Council
David was elected to the New York City Council by the people of the 23rd Council District in Queens in 2001, after two decades of service to public finance and community srice. Within weeks of taking office David became Chairman of the Council’s Finance Committee. Their choice to select a freshman Council Member to preside over the review and management of the City’s finances remains unprecedented and is a testament to his long-standing excellence in the field.
As Chair of the Council’s Finance Committee David was a tireless advocate for responsible public spending and partnered with the Mayor and citizen advocacy groups to strengthen fiscal responsibility throughout all five boroughs. In 2008, David was instrumental in locking away a total of $2.5 billion in surplus funds to ensure that future retirees continue to receive quality health care. In 2004 and again in 2007 David led the charge with the Mayor to put millions back in the pockets of 640,000 homeowners and co-op/condo owners in the form of $400 property tax rebates. Whether it be these initiatives, or his opposition to congestion pricing—he has called it an outer-borough tax—his fight for six-day library service, or any of his other victories, David’s dedication to judicious spending and quality investments in New York’s future is unmatched by any other candidate.
David has been relentless in his fight to secure a brighter future for New York’s middle class and businesses through greater transparency in the use of public funds, eradicating wasteful spending, and making wiser public investment choices.
The Start of an Unrivaled Record
David’s public service extends well beyond and before his City Council service.
In the 1990s, with the tax burden on New Yorkers escalating to record highs, then Mayor Giuliani asked David to serve on his New York City Tax Reform Task Force. The Task Force had the expressed purpose of finding ways to restructure taxes in ways that were fairer to residents and more competitive with other major cities. During David’s tenure on the Task Force the City secured a variety of tax cuts worth more than $1 billion, including a reduction in the income tax rate by 24%.
In 1983 he was chosen by then Governor Mario Cuomo to serve as the Deputy Superintendent of Banks and Secretary of the Banking Board for New York State. As part of his tenure, David was a watchdog of nearly $2 trillion, regulating more than 3,000 financial institutions and financial service firms in New York State, including international banking institutions, mortgage brokers, and mortgage bankers. One of several accomplishments David is proudest to have achieved on behalf of consumers as Deputy Superintendent was to reduce the number of days banking institutions may hold checks before clearing them, thereby reducing the interest they can earn on the backs of consumers and businesses. He delivered advice and counsel to the Banking Department on the formulation of banking standards. As part of the Board, he analyzed the condition of banks and exercised power to approve or disapprove the issuance of bank charters and licenses and the establishment of branch banks.
In a 20 year career as an investment banker in public finance David has held several positions within the financial services and banking industry, which include tenures at: Donaldson, Lufkin & Jeanrette; Kidder Peabody & Co., Inc; Paine Webber, Inc.; Advest, Inc; and Sterne Agee & Leach, Inc. David has also served as Chairman of the Securities Industry Association for the New York District, for three years.
A Family Man and Community Activist
David was born in Queens, New York to Saul and Sylvia Weprin. He has one older brother, Barry, and one younger brother, Mark. David attended Jamaica High School and went on to SUNY Albany, where he distinguished himself by graduating Cum Laude with a degree in Political Science. David went on to Hofstra Law School, where he solidified his desire to dedicate his life to public service.
David’s organizational affiliations include: membership in the Brandeis Association, Vice President, Northeast Queens Jewish Community Council, and serves or has served as a Board Member to the following: Transitional Services for New York, National Conference of Community and Justice, Respect for Law Alliance, National Committee for the Furtherance of Jewish Education, Greater Jamaica Development Corporation, Metropolitan Council Jewish Poverty, American Jewish Congress, Holliswood Civic Association, Economic Education Foundation of the Securities.
David, father of five children, resides in Holliswood with his wife Ronni and twins Max and Stephanie.
Weprin regularly attends the Young Israel of Jamaica Estates and the Young Israel of Holliswood, Queens.
Accomplishments
As City Council Finance Committee Chair, David Weprin led the fight against the unfair, inequitable and unsound congestion tax and other attempts to impose tolls on our free East River Bridges.
As Deputy Superintendent of Banks under former Governor Mario Cuomo, David Weprin kept watch of nearly 2 trillion dollars, and regulated 3,000 financial institutions. As Deputy Superintendent, David successfully fought to reduce the number of days banks held consumers’ checks before they cleared, thus allowing individuals faster access to their money.
As a member of the New York City Tax Reform Task Force, David Weprin pushed through tax cuts which had a positive impact on all New Yorkers.
As an executive in investment finance, David Weprin designed the financing of infrastructure projects in cities and towns across America , and are examples of best practices in municipal finance.
When the city went reeling into financial crisis in the months following the terrorist attacks of September 11, 2001, David Weprin levereged his power as Chair of the City Council’s Finance Committee to lead the City through the financial storm and back to calm shores.
As Chair of the New York City Council’s Finance Committee, you worked hard in the fight to eliminate the city sales tax on clothing and footwear costing under $110.
