Tax & Budget

The Federal Income Tax Deduction for State and Local Taxes Paid

May 23, 2005. This deduction is a key element of American federalism and a protection against double taxation:

Allowing taxpayers to deduct the state and local taxes that they pay in calculating their federal income tax liability is an essential part of a governmental system in which the federal and state governments have independent sovereign taxing authority. In the American federal system, when people pay state and local taxes, they have less money left over to pay federal taxes. Thus, … (read more)

Vulnerable New Yorkers Would Lose up to $4.4 Billion in Federal Funding under House Budget Plan

March 30, 2005. The Senate’s plan has considerably smaller cuts in basic low-income programs. Will the Senate accede to the harsher House budget? A press release from the Fiscal Policy Institute.

Contact:  Trudi Renwick, 518-786-3156

New York’s share of federal funding cuts in key programs that assist our state’s low-income elderly residents, families with children, and people with disabilities could be as much as $4.4 billion over the next five years under the budget plan the House passed earlier this … (read more)

Fiscal Stability for New York City

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)

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 >>(read more)

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 … (read more)

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 … (read more)

Testimony presented at the New York State Legislature’s Joint Budget Hearing on Human Services

February 7, 2005. Analysis of: the ways in which the 2005-2006 Executive Budget proposes to utilize the state’s federal Temporary Assistance for Needy Families (TANF) block grant; the Governor’s proposal to reduce the earned income disregard for long term cases and to impose full family sanctions on families out of compliance with work requirements; the Governor’s proposal to provide an enhanced earned income tax credit for noncustodial parents; ways in which the Unemployment Insurance system could be reformed; and how … (read more)

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 >>(read more)

Balancing New York State’s 2005-2006 Budget in an Economically Sensible Manner

January 25, 2005. The Fiscal Policy Institute’s briefing on Governor George E. Pataki’s Executive Budget and alternative approaches to balancing New York State’s 2005-2006 budget.

See pages 16 through 24 for FPI’s analysis of the economic impact of the Legislature’s 2003 decisions to add two temporary top rates to the state income tax and avoid deep cuts in aid to public schools. See pages 33 through 37 for FPI’s analysis of the Governor’s school aid proposals for 2005-2006.

Briefing book (read more)

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.

(read more)