Tax & Budget

A missed opportunity: Gov. Andrew Cuomo’s proposed budget needs to firmly invest in the Empire State

February 15, 2015. Gov. Andrew Cuomo’s budget proposal takes some positive steps forward in clearly acknowledging, for the first time in his tenure, the incredible child poverty and income inequality that exist in our generally affluent state. He also wisely recognizes the need to give greater property tax relief to those who need it most rather than spreading it too thinly.

However, for every step forward the governor takes in addressing some critical issues, he takes two steps back by … (read more)

New York State Economic and Fiscal Outlook 2015-2016

February 10, 2015. In its 25th annual New York State briefing book, the Fiscal Policy Institute analyzes and comments on Governor Andrew Cuomo’s 2015-2016 Executive Budget.

Governor Andrew Cuomo’s Executive Budget proposal takes some positive steps forward in clearly acknowledging, for the first time in his tenure, the incredible child poverty and income inequality that exist in our generally affluent state and recognizing the need to give greater property tax relief to those who need it most rather than … (read more)

Testimony at the Joint Legislative Public Hearing on the 2015-2016 Executive Budget – Taxes

February 9, 2015. Executive Director Ron Deutsch testified before the Senate Finance and Assembly Ways and Means Committees on the Governor’s 2015-2016 Proposed Budget and Financial Plan.

Governor Andrew Cuomo’s Executive Budget proposal takes some positive steps forward in clearly acknowledging, for the first time in his tenure, the incredible child poverty and income inequality that exist in our generally affluent state and recognizing the need to give greater property tax relief to those who need it most rather than … (read more)

Testimony at the Joint Legislative Public Hearing on the 2015-2016 Executive Budget – Human Services

February 4, 2015. Submitted by Elizabeth McNichol, FPI Senior Fellow. Testimony includes: recommendations for the 2015-2016 state fiscal year; a summary and analysis of actual and proposed reductions in Human Services spending; use of federal Temporary Assistance for Needy Families (TANF) funding in the 2015-2016 Executive Budget; and, the impact of decline in the purchasing power of the monthly cash assistance grant.… (read more)

Preliminary Analysis: Budget Takes One Step Forward and Two Steps Back

January 21, 2015.

Ron Deutsch, Executive Director

“The Governor’s proposal takes some positive steps forward to deliver targeted property tax relief and address poverty in the state. However, for every step forward we take two steps back if we don’t dramatically increase aid to our fiscally stressed schools and local governments and commit substantial resources to ending child poverty in our state.”

James Parrott, Deputy Director and Chief Economist

“To really help the poor and the middle class, we need

(read more)

New Analysis Confirms Low- and Middle-Income New York Taxpayers Pay Higher Tax Rate than the Richest New Yorkers

January 16, 2015. A new study just released by the Institute on Taxation and Economic Policy (ITEP) and the Fiscal Policy Institute (FPI) finds that the wealthiest New Yorkers are paying a smaller share of their income in state and local taxes than lower-income families that are struggling everyday to make ends meet. New York households with incomes under $100,000 pay higher effective state and local tax rates, ranging from 10.4% to 12%, than the richest 1% of households with … (read more)

FPI Commends Governor Cuomo for Advancing Middle Class Circuit Breaker—Targeted Tax Relief Tied to Income Is the Most Effective Mechanism

January 14, 2015. Governor Cuomo just announced a $1.66 billion property tax credit program (commonly referred to as a “Circuit Breaker”) to help ease the burden on working class families who are paying too much of their income in property taxes.

The Fiscal Policy Institute (FPI), working with our partners in the Omnibus Property Tax Consortium, has been calling for a targeted circuit breaker for years.  “We are pleased that the Governor announced a circuit breaker proposal that targets relief

(read more)

New York City Taxes Ripe for Reform

January 13, 2015. The City of New York taxes its wealthiest residents much less than middle- and low-income residents, and state and local officials should fix three major City tax breaks that expire this year, according to a new report from the Fiscal Policy Institute (FPI). In a sweeping report that reviews decades of tax changes and trends, FPI pinpoints inequities, tallies the cost of broken tax breaks, and urges tax reforms that reflect today’s economy and current challenges. A … (read more)

Mayor de Blasio Can Make Lasting Change with Nonprofit Living Wages and Career Opportunities

December 16, 2014. In recent years, there have been increased conversations at both the City and State level to address growing wage inequality through the provision of a living wage. However, one important segment of the workforce historically has been left out of these conversations– nonprofit employees. This op-ed by Jennifer Jones-Austin, CEO/Executive Director, Federation of Protestant Welfare Agencies and James Parrott, Deputy Director and Chief Economist, Fiscal Policy Institute describes how the Social Services Career Ladder project will address … (read more)

Fiscal Policy Institute Names Ron Deutsch as Interim Executive Director

November 17, 2014. The Board of Directors of the Fiscal Policy Institute announced today that it has appointed Albany veteran Ron Deutsch as Interim Executive Director effective immediately.

After a year of dedicated service, Dr. Frederick G. Floss has decided to return to his position as professor of economics and finance at Buffalo State College but will continue to work with the organization as a Senior Fellow.

“Income inequality and tax fairness will be two of the most important issues … (read more)