Economic development policies
March 2006. In a landmark decision issued on September 2, 2004, the U.S. Court of Appeals for the Sixth Circuit ruled that the State of Ohio’s investment tax credit violated the Commerce Clause of the U.S. Constitution. Rather than immediately appealing this decision to the US Supreme Court, DaimlerChrysler asked the Sixth Circuit to take the unusual step of rehearing the the case en banc.
The Sixth Circuit subsequently declined this request and DaimlerChrysler then asked the Supreme Court … (read more)
February 15, 2006. Testimony of Frank J. Mauro, Executive Director, Fiscal Policy Institute, presented to the Joint Budget Hearing on Economic Development and Taxes before the Assembly Ways and Means and Senate Finance Committees.
The centerpiece of the 2006-07 Executive Budget is a return to the pre-2001 practice of enacting large multi-year, backloaded tax cuts. The myriad of tax reductions being proposed by the Governor would reduce state revenues by about $1 billion in 2006-07. But because the proposed tax … (read more)
Groups Urge Lawmakers to Make Industrial Development Agencies More Accountable, More Transparent and Less Corrupt
Industrial Development Agencies Law Due to Sunset on June 30, 2005
Groups Call Upon Legislature and Governor to Make Real Changes That Will Make The Program More Accountable, More Transparent and Less Corrupt
Over 100 community, religious, education, health care, labor and human services organizations from throughout New York State have endorsed a joint statement of principles to reform the state’s Industrial Development Agency laws. The joint … (read more)
Companies Certified Prior to the June 2004 Sunset of a Little Known and Badly Misused Tax Break Are Back in the Money
April 1, 2005. Good Jobs New York has uncovered an unpublicized rider to Empire Zones “reform” legislation that allows firms certified for Zone Equivalent Area (ZEA) Wage Tax Credits prior to June 2004 to receive up to five years of benefits – despite the program’s expiration. GJNY released a list of benefit recipients that include Giuliani Partners, Ernst & Young, Fox News and News America. The press release:
Contact: Stephanie Greenwood, Good Jobs New York, 212-414-9394 Bettina Damiani, Good Jobs … (read more)
March 23, 2005. Testimony presented by FPI’s Deputy Director and Chief Economist James Parrott to the New York City Charter Revision Commission. This testimony deals with the Charter Commission’s interest in determining if any of the expiring provisions of the New York State Financial Emergency Act for the City of New York should be incorporated into the New York City Charter.… (read more)