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 … (read more)

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 … (read more)

The Impact of the 2004-2005 Executive Budget on Needy New Yorkers

February 11, 2004. FPI’s testimony at the Legislature’s Joint Budget Hearing on Human Services. Includes updated tables on TANF block grant spending. (PDF)… (read more)

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 >>(read more)

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 … (read more)

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 … (read more)

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… (read more)

Testimony at the Legislature’s Joint Budget Hearing on Human Services

March 3, 2003. Includes updated tables on TANF block grant spending, minimum wage workers, disposable income of New York SSI recipients, and each county’s public assistance shelter allowance as a percent of its Fair Market Rent. Testimony >>(read more)

Testimony at the Legislature’s Joint Budget Hearing on Taxes and Economic Development

February 26, 2003. Presented by FPI’s Frank Mauro. Testimony >>(read more)

Meeting New York City’s Fiscal and Economic Challenges in 2003

February 12, 2003. Released at FPI’s annual budget briefing, this analysis is based on Mayor Bloomberg’s January 28 Financial Plan for FY 2003-2007. Presentation >>(read more)