Federal taxes

Taxpayers Likely to Pay the AMT in Tax Year 2007 Under Current Law, By State

April 9, 2007. Data from Citizens for Tax Justice.… (read more)

Tax Cuts: Myths and Realities

March 20, 2007. This report from the Center on Budget and Policy Priorities debunks eight tax-cut myths.… (read more)

President Bush’s Budget and New York

February 2007.  A document from the White House gives some detail. Read . … (read more)

The President’s 2007-2008 Budget: What It Means to New Yorkers

February 7, 2007. The budget released on February 5 by President Bush pays for massive tax cuts for the rich by cutting services and programs for the poor. The President’s proposals balance the federal budget only on paper, and make it harder for New York to balance its budget. Report >>.… (read more)

The Fiscal Impact of House 100 Hours Agenda

January 23, 2007.  The combined fiscal impact of the six “100 hours” bills (which implement 9/11 Commission recommendations, close energy tax loopholes and more) is significant: the Congressional Budget Office (CBO) has estimated $21.1 billion in savings and revenue over the next ten years if the bills are signed into law. OMB Watch breaks it down by bill.… (read more)

99 Percent of New Yorkers Lose Under Bush “Tax and Borrow” Fiscal Policies

June 28, 2006. FPI’s release of a new report by Citizens for Tax Justice with state-specific data.… (read more)

Sorting Estate Tax Fact From Fiction

June 5, 2006.  New data from the IRS shows that only 1.6% of New York estates (and only 1.2% of all estates nationally) were subject to taxation in 2004. Press release including a fact sheet from Citizens for Tax Justice.… (read more)

Roth IRA “Conversion” Gimmick May be Used to Mask the True Cost of New Tax Cut Package Nearing Adoption by Congress

May 5, 2006. Press release below; also, links to additional resources.

Roth IRA “Conversion” Gimmick May be Used to Mask the True Cost of New Tax Cut Package Nearing Adoption by Congress

As news reports of the last several days have indicated, the chairs of the Senate Finance Committee and the House Ways and Means Committee have reached an “agreement in principle” on a tax reconciliation bill that would include approximately $70 billion of tax-cut extensions including a two-year extension … (read more)

House GOP Tax Cuts Ignore Crucial Funding

May 4, 2006. A letter to the editor by FPI Senior Economist Trudi Renwick, commenting on a Times Union editorial (April 19, 2006) on tax cuts being considered by Congress.… (read more)

House of Representatives’ proposed FY 2007 budget plan calls for large cuts in domestic programs while increasing the federal budget deficit

April 3, 2006. Press release:

House Budget Calls for Large Cuts in Domestic Programs and Would Worsen Deficit

Program Cuts Even Larger Than Those Proposed by President or Senate, Yet Would Be Offset by Tax Cuts and Added Defense-Related Spending

The five-year budget plan approved on Wednesday, March 29, 2006, by the US House of Representatives’ Budget Committee is badly out of step with both America’s needs and Americans’ concerns for fiscal responsibility and adequate funding of critical services.

Both … (read more)