NYC taxes

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)

Oversight: An Examination of the November Financial Plan

December 6, 2010. Testimony presented by James Parrott before the New York City Council Committee on Finance.… (read more)

Strike a Fairer Balance In Balancing City Budget: Trim Hedge Funds, Not Services

June 18, 2010. An op ed by James A. Parrott, The Chief.… (read more)

The Mayor’s Executive Budget Proposal

June 7, 2010. Testimony presented by James Parrott before the New York City Council Committee on Finance.… (read more)

Briefing on Mayor Bloomberg’s Preliminary FY 2011 New York City Budget

February 9, 2010. Despite Wall Street’s rebound, unemployment and hardship are extremely high for most New Yorkers; at best, recovery will be very gradual. This briefing finds that the Mayor’s proposed budget cuts and the state budget-related contingency cuts will worsen unemployment and hardship. To mitigate the harmful impact of the budget, increased federal fiscal aid is the highest priority, followed by progressive income tax increases – less harmful than budget cuts. Briefing >>(read more)

City Could Raise Revenues and Level Playing Field for Business

April 15, 2008. FPI examines the business tax treatment of “carried interest” earned by private equity fund and hedge fund managers, and finds that closing the carried interest loophole could raise $160-$225 million in new revenue for New York City – while leveling the playing field for New York businesses. Press release, full report.… (read more)

Freelancers Inc.

June 3, 2007. An op ed by James Parrott. New York Times.(read more)

Get one return, reap tax dollars

March 19, 2007. An op ed by James Parrott. Crains.(read more)

New York City 2006 Budget and Economic Outlook

February 9, 2006. Presentation by FPI Deputy Director and Chief Economist James Parrott. Presentation >>(read more)

Expenditure of Payments in Lieu of Taxes (PILOTs) in New York City

March 22, 2005. Testimony by FPI Deputy Director and Chief Economist James Parrott at a hearing of the City Council. This testimony deals with the discovery of the fact that Mayor Bloomberg and several of his predecessors have been spending some PILOT payment revenues without appropriations by the City Council. Related: Mayor Bloomberg’s veto message explaining his June 9, 2005, veto City Council legislation requiring greater accountability in the expenditure of PILOT revenues. Testimony >>(read more)