New York State economy

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)

Memo of Support: The Billionaire Mark-to-Market Tax Act

The Fiscal Policy Institute strongly supports the Billionaire Mark-to-Market Tax Act (S8277/A10414) that is expected to raise additional revenue for New York State to be used for multiple purposes, including supporting a fund that would provide weekly financial assistance to workers otherwise excluded from New York State Unemployment Insurance.

Download the PDF. … (read more)

1.2 Million New Yorkers Excluded from the CARES Act

 

Undocumented immigrants are being affected by COVID-19 like all other New Yorkers, but unlike others they are being systematically excluded from federal economic assistance programs.

The $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act included financial support for many families and businesses through this difficult period. But, despite the efforts of some members of Congress, the CARES Act very specifically excluded undocumented immigrants, and in some cases as collateral damage they excluded the children and spouses of … (read more)

FPI Comments on Federal Reserve Action

April 17, 2020

Recently, the Federal Reserve took a welcome step forward for states struggling in the wake of the pandemic by creating a new way to lend money directly to states and municipalities.  Through the Municipal Liquidity Facility, New York and other states struggling with a sudden drop-off in much-needed revenue can now access the funds needed to cover essential services.

While this is helpful in the short-term, states will need to borrow until their revenues recover. And that … (read more)

FPI’s 2020 State Budget Presentations

Our state budget is an opportunity to define our values and choose our future. Will our actions reinforce inequity and inequality or can we pull together to create a more just New York for all? FPI took a look at the proposed executive budget and shared our thoughts in two presentations, one in Albany and one in New York City. If you missed those informative events, you can still take a look at what was presented.

Fiscal Policy Institute Reacts to Governor Cuomo’s State of the State Address

FOR IMMEDIATE RELEASE: January 8, 2020

Media Contact: Fern Whyland, Communications Director, whyland@fiscalpolicy.org, 315-436-0558

Fiscal Policy Institute Reacts to Governor Cuomo’s State of the State Address

FPI Agrees that New Yorkers Deserve Results, Not Rhetoric 

Statement from Ron Deutsch, Executive Director, Fiscal Policy Institute
 
“Governor Cuomo is right that New Yorkers deserve results, not rhetoric. While our state economy booms, we continue to be short-changed by austerity budgeting. Missing from the governor’s State of the State address is clarity
(read more)

Join Us for Tax Justice NY!

You are invited to FPI’s new FREE event”Tax Justice NY: Moving from Austerity to Prosperity” in Albany on Monday, December 9th, from 11:30 am – 2:30 pm in Meeting Room 5, Empire State Plaza. Our state’s tax policy is a tool we can all use to eliminate existing racial, ethnic, and gender inequities and increase economic equality for all New Yorkers.  We are excited to partner with state and national advocacy organizations to bring these informative and energizing panel discussions … (read more)

Reworking New York State’s Family Tax Credits

March 8, 2019. The human costs of child poverty are staggering. Experiencing poverty as a child – even for short stints – can impair brain development, physical and mental health, and academic achievement, and increase the possibility of child welfare involvement.  And the impacts can last a lifetime.  Childhood poverty is the single best predictor of adult poverty.

Child poverty also imposes extraordinary economic costs to the state.  A report just issued by the National Academies of Sciences, Engineering, and … (read more)

FPI Supports Bill to End Company-Specific Subsidies

February 20, 2019. Senator Julia Salazar and Assemblymember Ron Kim were joined by Senator Michael Gianaris, the Fiscal Policy Institute, and community-based organizations as they introduced new legislation to end corporate welfare packages. The proposed bill would enact a collective agreement between all states that join, an interstate compact, to end the costly Race to the Bottom between different cities and states, which has cost many of them billions annually in taxpayers’ money for several decades. The legislation can be … (read more)

Press Release: 30th Annual Peoples State of the State

For Immediate Release: January 8, 2019

Media Contact: Susan Zimet, Hunger Action Network of NYS, 845-527-5309 susanzimet@gmail.com Ron Deutsch, Fiscal Policy Institute, 518-469-6769 deutsch@fiscalpolicy.org

30th Peoples State of the State The New Hope Budget New Politics, New Action, New Budget

(Albany, NY) Today’s Peoples State of the State address marks the 30th year that advocates from across New York State joined together for what has become the long standing “unofficial” kickoff of the legislative session in Albany. However, … (read more)