FPI

Holiday Season Underscores the New Yorkers’ Need for Support as Pandemic Deepens Inequity

Read the report:  The Pandemic Recession: Hitting Immigrants and People of Color Hardest The Pandemic Recession: Hitting Immigrants and People of Color Hardest

 (Albany, NY) — The holiday season is beginning in our state as never before with a second COVID wave bearing down on the health and financial stability of New Yorkers. While the COVID-19 is a threat to us all, immigrants and people of color are by far hit the hardest. And undocumented immigrants may be hit harder still since they are concentrated in several of the industries that have seen … (read more)

COVID-19 Revenue Shortfalls Threaten Increase to Fines and Fees

 November 2020

Declining revenues threaten New York State’s Local Governments, starting with steep declines in sales tax revenue collections. This revenue stream, which annually totals just over $16 billion for New York State’s counties, cities, towns, villages, and school districts, is expected to shrink precipitously in 2020 and into 2021, exceeding the six percent decline realized during The Great Recession.[i] At the same time, the state’s property tax cap limits local governments’ ability to bolster local revenues. Moreover, … (read more)

NYC Labor Market Took a Hard, Sustained Hit from the Pandemic

New York City Residents were hit harder and longer by the pandemic than those in the rest of the state. While both the city and the state have shown job gains since May 2020, the rebound has been modest. The road to recovery is long. Looking at the Employment to Population ratio (EPOP), we can see both are doing worse than during the Great Recession when the New York state EPOP never dropped below 57.7 percent and averaged 59.3 percent … (read more)

Medicaid Cuts Would Put 554,000 Essential Workers in New York at Risk

October 14, 2020

Many of New York’s “essential workers,” people working in jobs deemed necessary throughout the COVID pandemic, rely on Medicaid for their own health care. They risk severe hardship if federal policymakers fail to provide appropriate increases in Medicaid funding or weaken protections for program enrollees, according to a new analysis from the Center on Budget and Policy Priorities. In New York State over half a million, 554,000, essential workers rely on Medicaid.

The economic fallout from the … (read more)

Pandemic Economics Demand A Diverse Response

October 14, 2020

In light of New Jersey’s adoption of a millionaires tax to help fill a statewide revenue hole caused by the coronavirus, many asked what about New York? Like New Jersey, New York was hard hit by the pandemic, and its economy continues to suffer. Like New Jersey, New York has historic fiscal problems with a budget shortage of $14.5 billion this year, and in the tens of billions of dollars over the next several years. Like New … (read more)

Congress Must Agree on COVID Relief Package in the Next Week

The coronavirus pandemic has hurt us all. It has harmed our physical and mental health and economic well-being. As of September 24, 2020, COVID-19 has sickened over 7.2 million Americans and killed more than 207,000. The pandemic has harmed our economy, causing large-scale business shutdowns, which were ordered to protect public health. Tens of millions of Americans lost their jobs and incomes because of the pandemic, resulting in record-high unemployment rates and a rising need for services in New York … (read more)

New Poll Shows Overwhelming Majority of New Yorkers Support More Equitable Taxation to Raise State Revenue

September 1, 2020

Nine in Ten New Yorkers Support Increased Taxes on Incomes of $1 million and Above; Overwhelming Majority Oppose Cuts to Social Services to Address Budget Gap

New York – As New York State faces a dire budget crisis due to the COVID-19 pandemic, new polling conducted by a coalition of unions shows an overwhelming majority of New Yorkers continue to support increased taxes on the wealthy to close the deficit, rather than drastic cuts to education, healthcare … (read more)

Robust Rental Assistance Needed to Protect Tenants

August 2020

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Governor Cuomo has extended the state’s limited eviction moratorium until September 4, 2020 but the application window for the state’s $100 million COVID Rent Relief program closed on August 6, 2020. Many of New York State’s renters require assistance above and beyond the programs and protections currently in place.

The COVID Rent Relief program has limitations. It will only provide up to four months of rental assistance for those earning below 80 percent of … (read more)

Generating State Revenue Essential for Post-Pandemic Recovery

Billionaire Mark-to-Market Tax Can Raise Over $5.5 Billion To Help Keep New York State Running

New York can and must do more to address its budget crisis than wait for federal relief. While the economy has taken a hit, the state can raise enough tax revenue to avoid catastrophic budget cuts—to education, health care, and other crucial services—and add new programs to combat the coronavirus recession by helping those most in need. The Fiscal Policy Institute’s latest report explains how … (read more)

Mr. Trump, suburbia needs solutions, not tweets

August 8, 2020.

Editorial by LIHerald.com appears in full below:

“President Trump claimed last week that he is protecting suburbanites from low-income housing projects, tweeting on July 29:

“I am happy to inform all of the people living their Suburban Lifestyle Dream that you will no longer be bothered or financially hurt by having low income housing built in your neighborhood . . .”

Clearly, Trump is out of touch with suburban America. In Nassau County, no new low-income housing … (read more)