February 25, 2013. Last night, the White House released the following likely impacts from sequestration in New York State if Congress does not act to cut the deficit in a balanced way.  Bringing in more revenue by closing tax loopholes along with smarter reductions in spending would allow the federal government to avoid the following cuts in New York State:

Teachers and Schools: The loss of approximately $43 million in funding for about 120 primary and… (read more)

August 8, 2012. Today the Center on Budget and Policy Priorities released a new report showing that a “Cuts Only” approach to reducing the federal deficit would drastically cut federal investments in education, roads and bridges, and disaster relief. Cuts of this magnitude would do great damage to the economy. FPI’s press release (below) highlights the fact that the House-passed “Ryan Budget,” a prime example of the “Cuts Only” approach, would cost New York state and local governments $2.7… (read more)

September 14, 2011. An article by James Parrott, FPI’s deputy director and chief economist, who writes regularly for Gotham Gazette’s Economy section. Article >>

April 12, 2011. A new report from the Center on Budget and Policy Priorities (CBPP) points out that House Budget Committee Chairman Paul Ryan’s budget plan would cut the SNAP program (formerly known as food stamps) by $127 billion – almost 20 percent – over the next ten years (2012-2021), $8.78 billion in New York alone. FPI has estimated the impact on New York City and each of the counties outside New York City. FPI’s press release with New… (read more)

February 16, 2011. Testimony submitted by Carolyn Boldiston, FPI’s Senior Fiscal Policy Analyst. Her testimony includes: a review of New York State’s recent public assistance caseload history, a review of New York’s historical utilization of the federal Temporary Assistance for Needy Families (TANF) block grant, a review of the impact of the American Recovery and Reinvestment Act (ARRA) of February 2009 on TANF funding and spending in New York State, and recommendations for the 2011-2012 state fiscal year.

October 8, 2010. FPI presented its Frances Perkins Working People’s award to Nobel economist Joseph Stiglitz at an event in Manhattan on October 7. In his acceptance remarks, Stiglitz made a strong case for additional economic stimulus to put the country firmly on the road to recovery. A good summary of Stiglitz’s remarks by Kathy Brady of the New York City Employment and Training Coalition is available in the October 8 edition of NYCETC’s newsletter, the NYC Workforce Weekly. (read more)

September 27, 2010. Low- and moderate-income New Yorkers have a huge stake in the tax debate now going on at the national level: over $600 million annually in work-supporting tax credits. Enhancements to the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC) that were made by the American Recovery and Reinvestment Act (ARRA) will expire at the end of 2010 unless extended by Congress. A new report from the Fiscal Policy Institute reviews the workings of… (read more)

September 21, 2010. This policy brief compares the distributional impacts on New York taxpayers of President Obama’s plan and an alternative plan laid our in the Senate Republican leadership bill S.3773 – and looks at the impact of the same two proposals on programs and services. Conclusion? There are five reasons that the Bush tax cuts for the wealthy should be allowed to expire as scheduled, and the modifications of those tax cuts enacted as part of the… (read more)

August 8, 2010. A letter to the editor by James Parrott, Crain’s New York Business.

June 30, 2010. Senior fellow David Dyssegaard Kallick testified at a public hearing held by the National Commission on Fiscal Responsibility and Reform to hear ideas from members of the public. He testified about the relationship between immigration and economic growth and about the importance of federal support for state and local governments. Read the testimony.