FPI

FPI Policy Brief Press Statement: Time to Expand the Millionaires’ Tax

FPI Policy Brief: Time to Expand the Millionaires’ Tax

 The Fiscal Policy Institute (FPI) recently released a Policy Brief analyzing New York’s gross income disparity, recommending common sense solutions to narrowing the gap.

Since the 1980s, the income gap in the United States—as indicated by the wealthiest 1 percent’s share of total income—has grown significantly. In fact, the Congressional Budget Office (CBO) has been compiling income data since 1979, and has found that the top 1 percent’s income has grown … (read more)

Report: “Undervalued and Underpaid: How New York State Shortchanges Nonprofit Human Services Providers and Their Workers”

Undervalued and Underpaid: How New York State Shortchanges Nonprofit Human Services Providers and Their Workers

The substantial growth in New York’s nonprofit human services sector has come in response to a host of social, demographic and economic changes. The State and its local governments have turned to nonprofit organizations to provide these critical services; these are public services that serve many populations, including children and those with low incomes striving to enter the middle class. Millions of New Yorkers are … (read more)

AP News: Rich New Yorkers Ask State to Raise Their Taxes

March 21, 2017

ALBANY, N.Y. (AP) — Some of the wealthiest New Yorkers are asking the state to raise their taxes.

Eighty people including George Soros, Steven Rockefeller and Abigail Disney wrote to lawmakers and Democratic Gov. Andrew Cuomo saying they and other top earners can afford to pay more to support schools, roads, bridges and programs to help poor and homeless New Yorkers. (read more)… (read more)

Press Release: Over 80 Wealthy New Yorkers Urge Governor Cuomo to Extend and Expand Millionaires’ Tax

FOR IMMEDIATE RELEASE: March 21, 2017

Contact:

Ron Deutsch, Fiscal Policy Institute, 518-469-6769, deutsch@fiscalpolicy.org

Mike Leyba, Responsible Wealth, 562-266-4357, mleyba@faireconomy.org

Over 80 Upper-Income New Yorkers Urge Governor Cuomo and Legislature to Extend and Expand the Millionaires’ Tax

As New York State braces for proposed federal budget cuts that could have a devastating impact on health care, education and infrastructure investments across the state, more than 80 New York residents with incomes in the top 1% have sent an open letter … (read more)

Millionaires for Millionaires’ Tax PR

FOR IMMEDIATE RELEASE: March 21, 2017

Contact:

Ron Deutsch, Fiscal Policy Institute, 518-469-6769, deutsch@fiscalpolicy.org

Mike Leyba, Responsible Wealth, 562-266-4357, mleyba@faireconomy.org

80 Upper-Income New Yorkers Urge Governor Cuomo and Legislature to Extend and            Expand the Millionaires’ Tax

As New York State braces for proposed federal budget cuts that would have a devastating impact on health care, education and infrastructure investments across the state, more than 80 New York residents with incomes in the top 1% have sent an open letter to … (read more)

Times Union Opinion: Expand tax credit for low-income workers in New York

By Ron Deutsch and Reg Foster, Commentary

Published, Albany Times Union 5:25 pm, Wednesday, March 15, 2017

A young woman juggling an entry-level administrative job and classes at a community college; a divorced dad working 40 hours a week as a custodian to help support his two kids; a veteran trying to make a living back home after serving our country overseas: They, and millions of other hard-working Americans, struggle to make ends meet because their jobs pay low wages.… (read more)

March 2017 NYC Budget Presentation

In his briefing on Mayor deBlasio’s Preliminary FY 2018 NYC Budget, James Parrott highlights the following:

Cautious in face of an uncertain Washington: Federal aid is 1/3 of State budget (which is 18% of City budget); 8-10 % of City budget; 64% of NYCHA budget; and nearly half of the Health and Hospitals budget.

State budget better this year, but still challenges: Governor proposed to extend millionaires tax, but it should be enhanced; threat to CFE-settlement determined school aid; handful … (read more)

Policy Brief: Expand the Millionaires’ Tax and Address New York’s Worst-in-the-Nation Income Inequality

The millionaires’ tax is New York’s fiscal Swiss Army knife, a tool that addresses many different needs. It helps fund important priorities, balance the New York State budget, respond to heightened income inequality, and lessen the overall regressive state and local tax structure. And it is very much needed in New York today.

PDF of full Policy Brief(read more)

Economic and Tax Contributions of Undocumented Immigrants in NY

Tuesday, March 2. As the Trump Administration talks about a program of mass deportation – or, who knows, perhaps not? – the question of what contribution undocumented immigrants make to the New York economy is more important than ever. This new report finds that unauthorized immigrants are responsible for $40 billion, or three percent, of New York’s economic output, and make up five percent of the labor force. They also pay taxes—a total of $1.1 billion in state and local … (read more)

Policy Brief: Federal Funding Cuts Could Cause Significant Budget Woes For NYS

February 23, 2017. New York State faces gargantuan budget challenges if the current federal administration is successful in pursuing the many cuts in funding to states proposed thus far. In its most recent policy brief, the Fiscal Policy Institute points out that over one-third of New York’s All Funds budget is comprised of federal funds and billions in additional funds are also sent to local governments, schools, and transportation. Altogether, over $70 billion in federal aid flows to the state … (read more)