June 2020 - Fiscal Policy Institute

Legislators Pledge “No Cuts Without Revenue Raisers”

June 24 - Media round-up on legislators pledge. As part of FPI's efforts this year with our statewide revenue working group, we brought state legislators, union, and advocates together for two successful events in June – a legislative discussion state tax reform action that could be accomplished while we are waiting for federal assistance and a press conference unveiling a statement of principles signed by 100 state legislators along with unions and economic advocacy organizations, where they pledged to reject state budget cuts and instead [...]

Fiscal Policy Institute2024-12-18T12:24:35-05:00June 24th, 2020|FPI in the News|

Federal Funding is Essential to Health Care Coverage for New Yorkers

Strengthening Medicaid and protecting health coverage for New Yorkers is critical to ensuring that our state can respond effectively to the coronavirus public health crisis and the current economic recession. The Urban Institute has projected that Medicaid caseloads could increase by as much as 1,204,000, or 22.5 percent, through FY 2021—an unprecedented spike. New York needs help to cover those who are newly unemployed and expected to enroll in Medicaid and offset extra Medicaid costs related to coronavirus. Without proper funding, the state will be [...]

Fiscal Policy Institute2024-12-18T12:24:36-05:00June 20th, 2020|Blog, Fact Sheets, Healthcare|

Legislators Unite for People-Centered Recovery with Statement of Principles

Over 100 New York State Senate and Assembly members, along with statewide unions, the Fiscal Policy Institute, and the Strong Economy for All Coalition, called for no state budget cuts without raising revenue. The coalition has released a signed statement of principles calling for a balanced state tax policy where everyone pays their fair share and a post-pandemic economic recovery plan centered on the best engine for recovery for individual New Yorkers and their communities. Read the full Statement of Principles here. Press Release: One [...]

Fiscal Policy Institute2024-12-18T12:24:36-05:00June 18th, 2020|Blog, Must Read|

New York State Unemployment Fact Sheet for June

New York State’s average unemployment rate for April and May 2020 stood at 14.9 percent. For the same time period last year, the average unemployment rate was 3.8 percent. In the 12 weeks between March 10 and May 30, 2020, New York State processed over 2.4 million unemployment claims, which is more than 12 percent of the state’s population. Unemployment claims have slowed in recent weeks, but many New Yorkers remain unemployed. As of June 13, the five most racially and ethnically diverse industries have also [...]

Fiscal Policy Institute2024-12-18T12:24:36-05:00June 15th, 2020|Fact Sheets, Labor Market & Workforce|

The Fiscal Policy Institute’s Three-Point Plan for Re-Building New York

May 27, 2020. The Fiscal Policy Institute today warned state legislators and the governor that New York’s financial and social woes will only worsen if they attempt to return to an austerity budget model. The pandemic's public health crisis and subsequent economic downturn deepened an existing budget shortfall and with the deficit projected to be at least $13 billion, the state faces an extraordinary fiscal challenge. There is no simple solution to this crisis which will require bold innovation from our state leadership. Read the Policy Paper: Minimizing Risks While Maximizing Our State's Potential [...]

Fiscal Policy Institute2024-12-18T12:24:36-05:00June 15th, 2020|Blog, Economic Outlook, Must Read|

Unemployed Workers Set to Lose Federal Pandemic Unemployment Compensation

Unemployed New Yorkers are scheduled to receive their final Federal Pandemic Unemployment Compensation (FPUC) checks on July 26, 2020. FPUC was enacted as part of the CARES Act and the legislation set FPUC’s expiration for the end of July. The unemployment insurance (UI) expansions included in the CARES Act were quick and appropriate responses to the economic fallout of the coronavirus pandemic. The expansions were intended to help tens of millions of workers across the nation who were laid off due to mandatory business shutdowns [...]

Fiscal Policy Institute2024-12-18T12:24:36-05:00June 13th, 2020|Blog|

New York’s Public Sector Workforce Threatened by Lack of Federal Aid

New York’s public sector workforce is comprised of many of our state’s essential workers: nurses, teachers, firefighters, personal care aides, childcare workers, and more. In total, 24 major occupational groups – defined as having 10,000 or more workers – are part of the sector. A recent economic news release from BLS indicates that over 100,000 public sector workers in New York were laid off from their jobs between February and May of 2020 due to the Coronavirus pandemic and declining state revenues. Characteristics of New [...]

Fiscal Policy Institute2024-12-18T12:24:36-05:00June 13th, 2020|Blog, Fact Sheets, Labor Market & Workforce|

NYS Unemployment Factsheet for April

New York State’s April 2020 unemployment rate stood at 14.5 percent – up from 4.1 percent in March -and was the state’s largest recorded monthly increase since 1976 when the current record-keeping began. In the seven weeks between March 10 and April 25, 2020, New York State processed over 1.5 million initial unemployment insurance claims from residents, which represents more people than the entire population of the state of Maine. Look for more monthly factsheets covering unemployment in New York State. Read the factsheet here.

Fiscal Policy Institute2024-12-18T12:24:36-05:00June 13th, 2020|Fact Sheets, Labor Market & Workforce|

In Solidarity

The Fiscal Policy Institute stands in solidarity with protesters voicing outrage over the recent murders of George Floyd and Breonna Taylor, and the long history of violent abuse and killing of Black people at the hands of police in city after city, town after town, year after year. Black lives matter. Yet the history of racism built into our society actively harms Black people. We must do better for our state and our nation. In our research at the Fiscal Policy Institute, we consistently see [...]

Fiscal Policy Institute2024-12-18T12:24:36-05:00June 12th, 2020|Press Releases|

Local Government Reliance on Fines and Fees to Raise Revenues Hurts Residents and Communities

Across New York State, fines and associated fees are relied upon by local governments as a source of local revenue. Decreased aid from the state coupled with the 2-percent property tax cap, which was enacted in 2011 and restricts annual property tax increases to the lesser of 2-percent or the rate of inflation, has led to decreased revenues for local jurisdictions. To make up for budget shortfalls - which have worsened during COVID-19 - local governments may be tempted to raise additional revenue through fines [...]

Fiscal Policy Institute2024-12-18T12:24:36-05:00June 10th, 2020|Blog, Reports, Briefs and Presentations|

Refugee Resettlement Agencies Are Providing Essential Services During COVID-19

Now more than ever, refugee resettlement agencies are providing essential services to refugees and also to a number of other community members, to help protect everyone during the COVID-19 pandemic. Prior to the pandemic, the Fiscal Policy Institute showed how refugee resettlement agencies are anchor institutions in their communities, providing services for some of the most vulnerable community members, jobs for local residents, and a productive use for buildings that in some cases might otherwise be vacant. The importance that refugee resettlement agencies have to [...]

Fiscal Policy Institute2024-12-18T12:24:36-05:00June 1st, 2020|Blog, Must Read|

Monthly Archives: June 2020