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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)

Buffalo Economist Fred Floss: “We are in an Impossible Situation”

August 19, 2020.

Professor Fred Floss, a Senior Fellow at the Fiscal Policy Institute, Chair of the Department of Economics and Finance at Buffalo State and a member of Buffalo’s Fiscal Control Board, discussed Buffalo’s fiscal situation with Capital Tonight host Susan Arbetter.

“According to a new study published in the September edition of the National Tax Journal, cities in upstate New York, Buffalo, Rochester and Syracuse, are the most financially distressed cities in the nation. One reason why, according … (read more)

NY Pied-À-Terre Tax Bill Amended To Address Co-Op Issues

August 19, 2020. Spectrum News

With New York continuing to face a staggering revenue shortfall, an updated pied-à-terre tax proposal sponsored by Assemblymember Deborah Glick and Senator Brad Hoylman is receiving renewed interest.

“Jonas Shaende, chief economist at the Fiscal Policy Institute, told Law360 that one of the reasonable criticisms made last year about the bill was its application of market valuation to co-ops that never had that valuation method applied to them before. He said the changes account for … (read more)

Group Calls For NY ‘Mark-To-Market’ Tax To Raise $5.5B

August 12, 2020

“New York should pass a so-called mark-to-market tax bill to raise $5.5 billion annually and help the state during its post-pandemic recovery, a report by the left-leaning Fiscal Policy Institute said Wednesday.

The labor-backed policy group endorsed the mark-to-market tax proposal as New York faces a $14 billion revenue shortfall and estimated 20% cuts to education, hospitals, local governments and nonprofits. While state Democratic lawmakers and Gov. Andrew Cuomo, a Democrat, have been pushing federal lawmakers to … (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)

Over 40% of New Yorkers Uncounted as Feds Call for Early Halt to 2020 Census

8/4/2020

On Monday, August 3, 2020, the Census Bureau issued a statement, confirming reports that it plans for all 2020 census counting efforts to be cut four weeks short of what was expected. This is the federal administration’s latest attempt to inject an element of chaos and intimidation into what should be a unifying and democratic process. In April, the Census Bureau asked all households to respond to its 10-question survey either online or by mail. For those who … (read more)

The Politics of Hiking Taxes on the Rich During the Pandemic

August 6, 2020 – Spectrum News

New York State faces cuts to public programs and services due to this year’s unprecedented revenue shortfall. While awaiting needed federal action, advocates call for raising state revenue.

The sweeping cuts threatened by Governor Cuomo would devastate the very people hit hardest by the pandemic and its economic fallout. The state must get the economic engine of New York running while awaiting essential federal funding,” said Ron Deutsch, the executive director of the Fiscal (read more)

New York Must Act Now to Support Excluded Workers

Workers and families left without support for months  

Read the full report: Unemployment Compensation for Excluded Workers: Helping New Yorkers, Boosting the Local Economy

(Albany, NY) State unemployment benefits were expanded in significant ways for most New Yorkers who lost their jobs during the pandemic. However, tens of thousands of New York workers and their families were left adrift without federal or state assistance. The Fiscal Policy Institute’s new report shows that our state can act to create and fund … (read more)

Second Round of Economic Impact Payments Needed

Millions of New Yorkers remain unemployed due to COVID-19. With federal assistance set to end in July, the situation is dire as these payments were used to cover basic essentials for workers and their families – and those who were excluded from CARES Act support and state unemployment assistance continue to struggle. The facts are stark. “Over 9.3 million New Yorkers—48 percent of the state’s population—received Economic Impact Payments (EIP) totaling over $15 billion by May 22, 2020. Undocumented immigrants, … (read more)