Tax & Budget

Another View on Mayor de Blasio’s FY 2015 New York City Executive Budget

May 9, 2014. Understandably, much of the commentary on Mayor de Blasio’s FY 2015 Executive Budget has dealt with the financial impact of the recent UFT contract if applied across the entire 350,000-person unionized city workforce.  It is, afterall, by far the most significant labor deal in City history, potentially affecting the entire workforce for 7 years, and 150,000 of those workers for an additional two years going back to 2009 and 2010.

Some observers can’t quite grasp that Bill … (read more)

The Significance of the TWU and UFT Labor Contracts

May 7, 2014.

This commentary by FPI’s James Parrott on the new New York City labor contracts was requested by CUNY’s Joseph S. Murphy Institute and appears on their new blog.

For the first time in nearly five years, major labor agreements were recently reached covering public sector workers in New York City. On April 17, Transport Workers Union (TWU) Local 100 concluded a new 5-year contract dating from January 2012 covering 34,000 workers at the Metropolitan Transportation Authority (MTA), … (read more)

Parrott-Brecher Debate on NYC Municipal Contracts

April 25, 2014. Negotiations are underway to settle New York City municipal contracts, almost all of which have been expired for four or more years. Pattern bargaining has long been the norm in the City, but about one-third of the City’s 300,000 unionized workers, including teachers and nurses, never received raises from the last round. FPI’s James Parrott engaged in a spirited on-line debate discussing the topic “What can the City Afford?” during the week of April 21 with Charles … (read more)

Corning and MasterCard Paid .6% in State Taxes

April 14, 2014. As New York struggles with tough budget decisions about essential public services, profitable Fortunate 500 companies like Corning, MasterCard, Lowes and Consolidated Edison are paying 2% or less in state income taxes for 2012 thanks to copious loopholes, lavish giveaways and crafty accounting. The recently passed state budget did nothing to close these loopholes and this will continue the unlevel playing field where the rich are able to take advantage of the system.

90 Reasons We Need (read more)

New York State Economic and Fiscal Outlook 2014-2015

February 4, 2014. In its 24th annual New York State budget briefing, the Fiscal Policy Institute reviews the major spending and tax reduction proposals contained in Governor Andrew Cuomo’s 2014-15 Executive Budget.

FPI’s briefing provides a critical assessment of four fundamental assumptions that shape the proposed budget and state fiscal projections for the following three years. These assumptions deal with the preferred size of New York government, the optimal growth rate of state spending, the potential for budget savings … (read more)

Comparison of Final 2014-2015 NYS Revenue Bill to earlier Executive, Assembly and Senate Budget Proposals

March 31, 2014. This brief compares the New York State Revenue Bill to earlier Executive, Assembly, and Senate tax proposals.… (read more)

Testimony: NYC School Bus Industry in the Aftermath of the Removal of Employee Protection Provisions from Contracts

March 27, 2014. James Parrott testified at a New York City Council oversight hearing looking at the effects of removing job security protections from the City school bus contracts. The previous administration set in motion a contract re-bidding process that stripped school bus drivers, matrons and mechanics of job security protections. That action has already led to the bankruptcy of a large school bus company in the middle of the school year and threatens to further unsettle the industry on … (read more)

Tax Foundation: 2014 State Business Climate Rankings

March 26, 2014. This brief puts the Tax Foundation’s 2014 State Business Climate rankings into perspective and shows why attempting to improve New York’s ranking will have very little impact on economic growth or job creation.… (read more)

2014-2015 New York State Budget Tax Brief

March 24, 2014. The 2014-2015 New York State Budget Tax Brief compares the tax proposals in the Assembly and Senate budget resolutions with those in the Executive Budget. The major proposals are analyzed and their impacts discussed.… (read more)

Briefing on Mayor deBlasio’s Preliminary FY 2015 NYC Budget: Initial Progressive Steps, More to Come

March 11, 2014. In his review of NYC Mayor Bill deBlasio’s first budget, FPI’s James Parrott notes the new mayor’s progressive change in direction compared to prior City budgets. Not surprisingly, the major new initiative included in the Preliminary FY 2015 budget is full funding for the UPK/afterschool proposal scheduled for launch in the fall of 2014.

The briefing summarizes trends in state and federal aid, and analyzes projections for tax revenue growth. Parrott describes the municipal labor contract situation … (read more)