NYC taxes

Beyond Balance: Forward-Looking Budget Priorities for New York City

July 9, 2013. All three of New York City’s citywide elected offices will have new faces in 2014. Mayor Michael Bloomberg cannot run for re-election because of the city’s term limits law, while Public Advocate Bill de Blasio and Comptroller John Liu are both running for Mayor rather than seeking re-election to their current offices. As voters consider a large field of mayoral candidates, as well as contenders for the other two citywide offices, the five borough presidencies and … (read more)

Briefing on Mayor Bloomberg’s Preliminary FY 2014 NYC Budget, and a Forward-Looking Budget Agenda

March 5, 2013. Part I of the budget briefing on Mayor Bloomberg’s Preliminary FY 2014 NYC Budget makes the following points:

  1. Unemployment remains very high in this historically weak “recovery.” NYC job growth better than the U.S., but considerable hardships persist.
  2. NYC tax revenues have rebounded, but federal and state aid share declined.
  3. State budget choices and pressures continue to squeeze NYC.
  4. City-funded expenditures projected to increase 3.4% in FY 2014, with increases in debt service and health insurance. Most
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Briefing on Mayor Bloomberg’s Preliminary FY 2013 New York City Budget

March 6, 2012. Unemployment remains very high in this historically weak “recovery” in NYC, as across the country, and considerable hardships persist. In addition, NYS budget choices and pressures continue to squeeze NYC. The Mayor’s budget can only be described as austere: although needs have grown in the wake of the recession, NYC spending on human services funding has fallen by 10 percent. Income concentration has resumed, underscoring the need for progressive tax reform. NYC’s business tax expenditures have risen … (read more)

New York’s Unemployment Crisis and Income Polarization: Looking to State Policy for Solutions

December 2, 2011. A presentation by James Parrott at the Center for Working Families’ 2011 NYS policy conference: Good Ideas in Hard and Exciting Times: Policies for New York’s 99%. The last two slides show the overall regressivity of the New York State and New York City tax systems.… (read more)

Budget Busters

September 18, 2011. A letter by James Parrott, New York Post.… (read more)

Testimony at the New York City Council Committee on Finance Hearing on the FY 2012 Executive Budget

June 6, 2011. FPI’s James A. Parrott delivered testimony detailing the following points: Against the backdrop of an outlook for a very gradual and drawn-out recovery during which unemployment and economic adversity remain elevated, the Mayor’s Executive Budget proposal contains several harmful budget cuts that will curtail vital services in many critical areas. The City needs a more balanced approach to closing large budget gaps; this approach should reduce outlays on contracting out and find ways to enhance revenues. Testimony (read more)

New York City Revenue and Cost Savings Options

May 23, 2011. This one-pager makes the case that NYC should reform its Personal Income Tax (PIT) structure to add brackets to the top and to take low-income households off the income tax rolls. Four more revenue options and three cost-cutting measures are also proposed.… (read more)

Briefing on Mayor Bloomberg’s Preliminary FY 2012 New York City Budget

March 2, 2011. Despite Wall Street’s rebound, unemployment and hardship continue; at best, recovery will be very gradual. The revenue rebound does not make up for declining federal and state aid, particularly in education. Human services are being cut, while recent tax changes worsen the regressivity of the City’s tax structure. The City should begin to address several tax inequities and strengthen its revenue base. Briefing >>(read more)

Make Wall Street Pay

February 7, 2011. An op ed by James Parrott, New York Times. Part of “Room for Debate” – Will City Pensions Be Cut?(read more)

Proposal to Recapture High End Federal Tax Cut Windfall

December 20, 2010. In the wake of the historic agreement between the President and the Republican Congressional leadership to extend the Bush tax cuts for the wealthiest, the New York City Council’s Progressive Caucus has developed an interesting proposal. The proposal calls for the state of New York to impose a temporary income tax surcharge to recapture for New York the “windfall” high income New York filers will be receiving. Related: an op-ed by Brad Lander, co-chair of the … (read more)