Coalition and lawmakers call on Governor, Legislature to close corporate tax loopholes to level playing field for small business and restore public services

January 30, 2013. As part of a coalition of community, labor, faith, student and Occupy organizations, the Fiscal Policy Institute has launched a campaign to bring fairness and transparency to New York’s corporate tax system, ending costly loopholes that cost taxpayers and businesses dearly. The coalition is calling on Governor Cuomo and the Legislature to close a series of unfair corporate tax loopholes, raising nearly $1billion for this year’s state budget and leveling the playing field between large out-of-state multinational corporations and New York based small and medium-sized businesses.

Corporate Tax Reform Agenda >>>

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Growing number of states look at minimum wage hike

January 29, 2013. A USA today article says that nearly half the states have increased their minimum wage this year or are considering plans to hike it as the economy transitions from recession to a stronger recovery.

The state push could encourage Washington to re-evaluate the federal minimum wage of $7.25 an hour, says James Parrott, a director and chief economist for the Fiscal Policy Institute, a non-partisan New York research and education organization.

New York State Economic and Fiscal Outlook 2013-2014

January 29, 2013. The Fiscal Policy Institute’s 23rd annual budget briefing. Briefing Book

Raising New York’s Minimum Wage: The Economic Benefits and Demographic Impact of Increasing New York’s Minimum Wage to $8.75 per Hour

January 28, 2013. A minimum wage increase included in Governor Cuomo’s budget proposal, released last Tuesday, would raise the paychecks of over 1.5 million low-paid New Yorkers, according to a new report from the Fiscal Policy Institute and the National Employment Law Project. The Governor’s proposal would raise the state’s minimum wage from $7.25 to $8.75 per hour on July 1, 2013, and the increased wages would generate more than $1 billion in new consumer spending, supporting the creation of 7,300 new full-time jobs across the state as businesses expand to meet increased demand. The report also notes that, if after increasing to $8.75, the minimum wage were phased-up to $10 per hour, the economic stimulus effects and job creation impact would improve significantly.  Press Release>>

Dream Act would provide aid to illegal immigrants

January 21, 2013. The Utica Observer-Dispatch carries an AP story about the New York State DREAM Act, which would allow qualified undocumented college students to access the state’s Tuition Assistance Program. The measure seems to be gaining momentum in Albany. Last year, FPI undertook to analyze the costs and benefits of the proposal, and the estimated costs are cited in this article.

Fiscal Policy Institute’s Mauro to step down

January 7, 2013. Frank Mauro will be stepping down as FPI’s Executive Director at the end of New York’s 2013 Legislative session. Mauro has long been one of Albany’s best known experts on budget and public policy issues from his work at FPI and earlier as Secretary of the NYS Assembly Ways and Means Committee, director of Assembly Speaker Stanley Fink’s Program Development Group, director of research for the last major revision of the New York City Charter, and Deputy Director of the Rockefeller Institute of Government.

Michael Burgess, FPI board chair, said “Frank Mauro has used his great understanding of fiscal issues and his passion for tax fairness to make the Fiscal Policy Institute the source for progressive policy proposals through five governors and an entire generation of Albany legislative history.  In that time, FPI’s work has provided policy research and analysis to support the value and impact of government economic and social investments.”

Mauro’s leadership at FPI since 1993 has been essential to its development as a credible and effective advocacy organization that helps to shape the debate over key economic and fiscal issues in ways that ensure a voice for working people – from middle income homeowners struggling with high property tax bills to those families whose breadwinners toil in minimum wage jobs to the involuntarily unemployed.

FPI is conducting a national search to identify Mauro’s successor. Press release >>