NYC Secession Plan Floated...51st State?

According to today's New York Sun, Peter Vallone, Jr. a city councilman representing Queens, has floated the idea of having NYC secede from New York State. At issue is the approximately $11 Billion difference between what NYC sends to the state and what it gets back yearly. Mayor Bloomberg has been vocal on this issue for some time. While secession is highly unlikely (it has to be approved by the state), according to sources inside City Hall, the idea could gain serious traction. If anything, such a threat could be used as leverage to get more tax income returned to the city.
A Secession Plan Is Floated For NYC (NY Sun)