Tax & Budget

Combined Impact of the Federal, New York State and New York City Income Tax Changes

June 2003. The net result? A substantial net reduction in the income tax liability of affected taxpayers. Data analysis >> In adopting the 2003-2004 state budget, the New York State Legislature was able to greatly reduce the local property and sales tax increases and the service cuts that would have occurred if Governor Pataki's budget had been adopted as submitted. To a significant degree, this local tax relief was made possible by the Legislature's adoption of temporary increases in the state income tax for the [...]

2020-10-27T13:09:42-04:00June 30th, 2003|Reports, Briefs and Presentations, State Budget, Tax & Budget, Tax Policy|
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Schools, Taxes and the New York Economy

April 24, 2003. A balanced budget alternative to the Governor’s school aid cuts. Based on an economic impact analysis prepared for FPI by the Institute on Taxation and Economic Policy, this report, released jointly by FPI and the Alliance for Quality Education, shows that the Governor's school aid cuts are "job killers" in the short run and even worse for the state's economy over time.  The economic benefits of restoring the Governor's school aid cuts far outweigh the effects of an income tax increase to [...]

2020-11-13T15:04:36-05:00April 24th, 2003|Education, Social Policy, State Budget, Tax & Budget, Tax Policy|
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New York Impact Analysis: Effects of 2004 Congressional Budget Resolution

April 23, 2003. Due to the federal tax and budget agreement, New York will suffer $1.56 billion in cuts to key programs over ten years to pay for tax breaks for the wealthy, according to this report from the Economic Policy Institute and the Institute for America's Future. Groups call on House to join Senate in passing fiscal relief for the states; joint statement from FPI and New Yorkers for Fiscal Fairness releasing new EPI/Institute for America's Future report

2020-10-27T13:07:10-04:00April 23rd, 2003|Blog, Press Releases, Tax & Budget|
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Balancing New York State’s 2003-2004 Budget in an Economically Sensible Manner

February 4, 2003. The Fiscal Policy Institute's 13th annual budget briefing: analysis of Governor George E. Pataki's Executive Budget and alternative approaches to balancing New York State's 2003-2004 budget.  Briefing book on the 2003-2004 executive budget >> This PowerPoint version of the briefing book has most of the same charts and graphs but condenses the text with bullet points. Despite Governor Pataki’s recent pronouncements regarding the relationship between jobs and cuts in broad based taxes, the large personal income tax cuts that New York implemented [...]

2020-11-13T14:17:42-05:00February 4th, 2003|Reports, Briefs and Presentations, State Budget, Tax & Budget, Tax Policy|
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New York State and Local Taxes in 2002

January 2003. From the Institute for Taxation and Economic Policy, this chart and table show the impact of state and local taxes (by type of tax, in total before taking federal deductibility into consideration, and in total after taking federal deductibility into consideration) on the family incomes of non-elderly New Yorkers broken down into seven income categories, ranging from the bottom 20% (taxpayers with incomes of less than $15,000) to the top 1% (taxpayers with incomes above $634,000). (PDF)

2012-03-17T16:54:37-04:00January 31st, 2003|Blog, Tax & Budget, Tax Policy|
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The NYS and NYC Budgets

November 25, 2002. New from FPI: the New York City 2003-2004 budget outlook, based on Mayor Bloomberg's November 14, 2002, Financial Plan Update. Briefing materials on the state budget: New York State's 2003-2004 Budget Outlook - a budget alert originally released October 19 and a presentation released September 26, Listing of new tax cuts taking effect in 2002, 2003 and thereafter.

2020-10-27T13:09:43-04:00November 25th, 2002|Reports, Briefs and Presentations, State Budget, Tax & Budget, Tax Policy|
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Budget Alert: New York State’s 2003-2004 Budget Outlook

October 19, 2002. By Frank Mauro. Late last month while discussing a broad range of topics with the editorial board of The (Troy) Record, Senate Majority Leader Joseph Bruno predicted that New York State faces a budget gap of $8 billion to $10 billion in its 2003-2004 budget.  The magnitude of this prediction is obvious when one focuses on the fact that the state's tax supported General Fund budget is about $40 billion.  Thus, if Senator Bruno's prediction is accurate, the steps necessary to balance [...]

2012-03-25T10:36:52-04:00October 19th, 2002|Reports, Briefs and Presentations, State Budget, Tax & Budget|
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The State of Our Schools Part 2: The Combined Effect of the “Bare Bones” Budget and the Governor’s Proposed State Aid Freeze

April 17, 2002. FPI's analysis of the combined effect of the 2001-2002 "Bare Bones" Budget and the Governor's proposed 2002-2003 state aid freeze on New York State school districts and students was presented in a new report from the Alliance for Quality Education and the Public Policy and Education Fund. This analysis shows that under the Governor's proposed budget, 6 out of 7 school children in the state are in school districts that will receive less aid in 2002-2003 under the Governor's proposed budget than [...]

2020-11-13T15:04:36-05:00April 17th, 2002|Education, Reports, Briefs and Presentations, Social Policy, State Budget, Tax & Budget|
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The Impact of New York State’s Personal Income Tax on Low Income Working Families

February 26, 2002. This report shows that New York has among the lowest income tax burdens in the country for low-income working families. Most of the relief for these families comes from the State Earned Income Tax Credit (EITC) enacted in 1994. The income tax rate cuts and other changes enacted in 1995 now cost over $5 billion per year but provide very little help to these families. Also see the Center for Budget and Policy Priorities annual report, State Income Tax Burdens on Low-Income [...]

2012-03-18T01:11:13-04:00February 26th, 2002|Reports, Briefs and Presentations, Tax & Budget, Tax Policy|
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