Tax & Budget

Expenditure of Payments in Lieu of Taxes (PILOTs) in New York City

March 22, 2005. Testimony by FPI Deputy Director and Chief Economist James Parrott at a hearing of the City Council. This testimony deals with the discovery of the fact that Mayor Bloomberg and several of his predecessors have been spending some PILOT payment revenues without appropriations by the City Council. Related: Mayor Bloomberg's veto message explaining his June 9, 2005, veto City Council legislation requiring greater accountability in the expenditure of PILOT revenues. Testimony >>

Fiscal Policy Institute2024-12-18T12:30:25-05:00March 22nd, 2005|Economic Trends & Policy, State Budget, Tax & Budget, Tax Policy, Testimony|

Joint Statement in support of a Better Choice approach to balancing New York State’s 2005-2006 Budget

February 17, 2005. This joint statement was released at a press conference today at the Legislative Office Building in Albany. The organizations from throughout New York State that have endorsed the statement are listed below following the statement. Also below, a back-up document that provides additional information on the budget balancing options set forth in the statement. There's still a Better Choice! We urge the Governor and the Legislature to work together to ensure that the 2005-2006 state budget meets New Yorkers' needs. The revenues [...]

Fiscal Policy Institute2025-04-04T14:27:54-04:00February 17th, 2005|Press Releases, State Budget, Tax & Budget|

Testimony presented at the New York State Legislature’s Joint Budget Hearing on Economic Development and Taxes

February 16, 2005. Frank J. Mauro, Executive Director, Fiscal Policy Institute, presented testimony to the New York State Legislature's Joint Budget Hearing on Economic Development and Taxes before the Assembly Ways and Means and Senate Finance Committees. I greatly appreciate being invited to appear to you today on the subjects of economic development and taxes. SPUR. As part of his 2005-06 Executive Budget proposal, Governor Pataki has proposed a new program that he refers to variously as SPUR and Operation SPUR, with the SPUR acronym [...]

Fiscal Policy Institute2025-04-04T14:27:55-04:00February 16th, 2005|Economic Trends & Policy, Tax & Budget, Tax Policy, Testimony|

New York City’s 2005-2006 Budget Outlook

February 2, 2005. Includes analyses of the Mayor's January 27, 2005 Financial Plan, the MTA Operating Budget and 2005-2009 Capital Program, and the fiscal implications of the Far West Side Proposal. Presentation >>

Fiscal Policy Institute2024-12-18T12:30:26-05:00February 2nd, 2005|Reports, Briefs and Presentations, State Budget, Tax & Budget, Tax Policy|

Organizations Join Together to Tell Governor that his Vetoes Will Hurt

September 22, 2004. Diverse organizations urge the Legislature to override the vetoes and restore the budget they have already passed. Group press release Preliminary Analysis of 2004-2005 Budget, After Vetoes List of speakers TANF "SURPLUS" SFY 2004-05 Housing and Veterans Disability Advocacy Program Libraries Youth Programs Child Health Plus

Fiscal Policy Institute2024-12-18T12:30:27-05:00September 22nd, 2004|Blog, State Budget, Tax & Budget|

Large, Profitable Corporations Not Paying Their Fair Share

September 22, 2004. Eighty-two of America's largest and most profitable corporations, including twelve New York-based corporations and many other corporations that generate a substantial portion of their profits in New York state, paid no federal income tax at all in at least one year during the first three years of the George W. Bush administration, a period when federal corporate tax collections feel to their lowest sustained level in six decades. This is one of many startling findings of a new report on corporate tax [...]

Fiscal Policy Institute2024-12-18T12:30:27-05:00September 22nd, 2004|Press Releases, Tax & Budget|

New Jersey increases its top income tax rate

July 2004. In a new law approved on June 28, 2004, New Jersey increased its top income tax rate for tax years beginning on and after January 1, 2004, from 6.37% on the portion of taxable income above $75,000 for single individuals and $150,000 for married couples to 8.97% on the portion of taxable income above $500,000 regardless of filing status. This represents a significant shift in the traditional relationship between the top income tax rates in New York and New Jersey. For the first time [...]

Fiscal Policy Institute2024-12-18T12:30:28-05:00July 1st, 2004|Blog, Tax & Budget, Tax Policy|

Balancing New York State’s 2004-2005 Budget in an Economically Sensible Manner

January 2004. The Fiscal Policy Institute's budget briefing. Briefing book on the 2004-2005 executive budget >>

Fiscal Policy Institute2025-04-04T14:27:56-04:00January 23rd, 2004|Reports, Briefs and Presentations, State Budget, Tax & Budget, Tax Policy|

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 [...]

Fiscal Policy Institute2024-12-18T12:30:29-05:00June 30th, 2003|Reports, Briefs and Presentations, State Budget, Tax & Budget, Tax Policy|

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

Fiscal Policy Institute2024-12-18T12:30:30-05:00April 23rd, 2003|Blog, Press Releases, Tax & Budget|