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The Fiscal Policy Institute (FPI) works to increase public and governmental understanding of issues related to the fairness of New York's tax system and the stability and adequacy of state and local public services. Each year since its creation in 1991, FPI has issued an analysis of the state's fiscal situation and tax system. FPI also issues special reports and articles on a variety of related subjects. For example, FPI has completed major studies of the state's unemployment insurance system and of the issues surrounding the provision of paid family leave through New York's temporary disability insurance program. In addition, FPI maintains an active program of public education.

FPI is part of a consortium of state-level organizations from throughout the U.S. that were selected through a national competition to be part of the State Fiscal Analysis Initiative. The goal of this Initiative, which is supported by the Ford, Charles Stewart Mott, and Annie E. Casey Foundations, is to enhance the timeliness, credibility, accessibility and usefulness of the analysis that is available on the broad range of state tax and budget issues that affect low-income and other vulnerable populations.