Monthly Archives: January 2015

2015-2016 Annual Budget Briefing in Albany

On Tuesday morning, February 10, 2015, the Fiscal Policy Institute will present its twenty-fifth annual budget briefing in the Clark Auditorium of the New York State Museum on the concourse level of the Empire State Plaza. Please note the venue change for this year’s briefing. A complimentary continental breakfast will be available from 8:15 a.m. until our presentation begins at 9:00 a.m. We will finish promptly at 10:00 a.m. We hope that you and/or members of your staff will be able to join us for [...]

2020-12-21T14:48:16-05:00January 28th, 2015|Fact Sheets|
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New York’s Top 1% See All Income Gains Since Recession

January 26, 2015. The incomes of the top 1 percent in New York State were nearly 50 times more than the bottom 99 percent in 2012, according to new analysis published by the Economic Policy Institute for the Economic Analysis and Research Network (EARN). The Fiscal Policy Institute is a founding member of the EARN network. In The Increasingly Unequal States of America: Income Inequality by State, 1917 to 2012, economists Estelle Sommelier and Mark Price update their analysis of IRS tax data—using the same [...]

2020-11-13T14:27:56-05:00January 26th, 2015|Economic Trends & Policy, Labor Market & Workforce, Press Releases|
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Preliminary Analysis: Budget Takes One Step Forward and Two Steps Back

January 21, 2015. Ron Deutsch, Executive Director “The Governor’s proposal takes some positive steps forward to deliver targeted property tax relief and address poverty in the state. However, for every step forward we take two steps back if we don’t dramatically increase aid to our fiscally stressed schools and local governments and commit substantial resources to ending child poverty in our state.” James Parrott, Deputy Director and Chief Economist “To really help the poor and the middle class, we need to scrap the 2% spending [...]

2015-01-21T19:39:32-05:00January 21st, 2015|City Budget, Press Releases, State Budget, Tax & Budget, Tax Policy|
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New Analysis Confirms Low- and Middle-Income New York Taxpayers Pay Higher Tax Rate than the Richest New Yorkers

January 16, 2015. A new study just released by the Institute on Taxation and Economic Policy (ITEP) and the Fiscal Policy Institute (FPI) finds that the wealthiest New Yorkers are paying a smaller share of their income in state and local taxes than lower-income families that are struggling everyday to make ends meet. New York households with incomes under $100,000 pay higher effective state and local tax rates, ranging from 10.4% to 12%, than the richest 1% of households with incomes over $600,000, who pay [...]

2015-01-16T10:00:07-05:00January 16th, 2015|City Budget, Reports, Briefs and Presentations, Tax & Budget, Tax Policy|
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Most Main Street Growth Due To Immigrant-Owned Businesses

January 14, 2015. A report on our Immigrant Main Street business owners report from NBC Latino: There's a very good chance that the new deli, dry cleaner or nail salon that opened in your neighborhood shopping district is owned by an immigrant. Between 2000 and 2013, immigrants accounted for all net Main Street business growth nationally and in 31 of the 50 largest metropolitan areas in the country, according to a new study released Wednesday by the Americas Society/Council of the Americas (AS/COA) and the Fiscal [...]

2015-04-06T08:34:07-04:00January 15th, 2015|FPI in the News|
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FPI Commends Governor Cuomo for Advancing Middle Class Circuit Breaker—Targeted Tax Relief Tied to Income Is the Most Effective Mechanism

January 14, 2015. Governor Cuomo just announced a $1.66 billion property tax credit program (commonly referred to as a “Circuit Breaker”) to help ease the burden on working class families who are paying too much of their income in property taxes. The Fiscal Policy Institute (FPI), working with our partners in the Omnibus Property Tax Consortium, has been calling for a targeted circuit breaker for years.  “We are pleased that the Governor announced a circuit breaker proposal that targets relief to working and middle class [...]

2015-01-16T09:26:09-05:00January 14th, 2015|Blog, City Budget, Press Releases, Tax & Budget, Tax Policy|
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3 Cities Where Immigrants Helped Save Main Street

January 14, 2015. A great story by Ted Hesson for Fusion, with nice added detail in all three metro areas. South Philadelphia’s Italian Market has long been the go-to spot for pasta and cannoli. But in the past two decades, a new set of business owners have moved into the neighborhood, bringing Mexican, Vietnamese and Korean food with them. The transformation follows a national trend: new immigrants are increasingly becoming the face of community businesses across the country and, in some cases, a lifeline for [...]

2015-01-15T22:55:40-05:00January 14th, 2015|FPI in the News|
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Report: Immigrant Biz Powered NYC’s Comeback

January 14, 2015. Crains New York Business picked up on the population trend shown in FPI's new report on immigrant Main Street businesses. In New York City, immigrants make up, arithmetically, all of the population growth since the city's decennial lowpoint in 1980.* Check out our interactive graphic here. (Thanks to Colin Gordon for putting it on the web.) From the story: New York City's revitalization since the 1970s has been spurred by an oft-overlooked force: Main Street immigrant business owners, whose ranks have risen rapidly [...]

2015-01-15T22:48:00-05:00January 14th, 2015|FPI in the News|
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Many Ways to Help Immigrant Businesses, Report Says

January 14, 2015. The Philadelphia Inquirer picked up on FPI's report about immigrant Main Street business owners, which includes national data as well as case studies in Philadelphia, Minneapolis-St. Paul, and Nashville. Immigrants who want to open a corner store, pay for a wedding, or buy a house often turn to a "lending circle." Called tandas in Latin America, susu in West Africa, and hui in China, they offer pooled-risk loans from informal groups with family honor as collateral. Repayments don't necessarily build creditworthiness, however, because transactions are [...]

2015-04-06T10:03:53-04:00January 14th, 2015|FPI in the News|
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Immigrant Entrepreneurs Boost ‘Main Streets’ in Nashville

January 14, 2015. A front page story in The Tennessean talks about FPI's study on immigrants' role in Main Street businesses. The report has data about immigrant entrepreneurship around the country, and includes case studies from three metro areas: Philadelphia, Minneapolis-St. Paul, and Nashville. Here's the lede: When Nashville voters rejected a 2009 referendum that would have banned government officials from using non-English languages in their work, they sent a message that the city welcomed its immigrant community. Years later, their vote also would prove [...]

2015-01-15T18:28:35-05:00January 14th, 2015|FPI in the News|
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Immigrant Entrepreneurs Prosper on Main Street

January 13, 2015. The Wall Street Journal features FPI's new report on Immigrant Main Street business owners: In the U.S. from 2000 to 2013, including in 31 of the 50 largest metro areas, immigrants accounted for all the growth in so-called Main Street businesses, according to a new study based on analysis of census data. Such firms are grouped in three categories: lodging and food, retail and neighborhood services such as dry cleaning and beauty salons. Immigrants made up nearly one out of three owners [...]

2015-01-15T18:07:56-05:00January 13th, 2015|FPI in the News|
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Immigrant “Main Street” Business Owners Playing an Outsized Role

January 14, 2015. Immigrants are a little more likely to own businesses than their U.S.-born counterparts, but they are a lot more likely to own Main Street businesses such as grocery stores, restaurants, and barber shops, finds a new study released today by the Fiscal Policy Institute and Americas Society/Council of the Americas. Immigrants make up 16 percent of the labor force and 18 percent of business owners, but 28 percent of Main Street businesses (defined as retail, food services and accommodation, and [...]

2015-06-17T18:57:11-04:00January 13th, 2015|Migration, Must Read, Reports, Briefs and Presentations|
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Immigrants Are More Likely to Be Business Owners …but They’re Not “Super-Entrepreneurs”

January 14, 2015. Immigrants are entrepreneurial—that is by now well established. But how much more is not as widely understood. As I was working on a report about immigrant business ownership, Bringing Vitality to Main Street, released today by the Americas Society/Council of the Americas with the Fiscal Policy Institute, I dug into what the research shows. What I found is that there is broad consensus that immigrants are a little more likely to own businesses than their U.S.-born counterparts, but not a lot more [...]

2015-01-16T09:27:20-05:00January 13th, 2015|Blog, Migration|
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Acknowledgements for Bringing Vitality to Main Street

In the research and writing of Bringing Vitality to Main Street: How Immigrant Small Businesses Help Local Economies Grow, I am deeply indebted to so many people that the full page of acknowledgments has to be posted online. —David Dyssegaard Kallick, author, Bringing Vitality to Main Street: How Immigrant Small Businesses Help Local Economies Grow. Kate Brick policy manager at the Americas Society/Council of the Americas (AS/COA), was a valuable partner from beginning to end in the conception, design, and editing of this report. Former AS/COA [...]

2015-01-14T08:50:45-05:00January 13th, 2015|Blog|
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