NYS budget

Statement on Governor Paterson’s call to cut state spending by $1.8 billion

October 15, 2009. Statement from FPI Executive Director Frank Mauro.… (read more)

Back on Track: Why Progressive Tax Reform Is an Essential Part of New York’s Budget Solution

March 22, 2009. New York faces one of the largest budget deficits in the country for the coming year at $14.2 billion. The State’s 2009-2010 fiscal year begins April 1, 2009. Two responses to addressing the crisis have dominated the policy debate. Both acknowledge the detrimental impact Wall Street revenue declines have had on the State’s fiscal condition. But in other ways they diverge significantly.

In the context of a deepening recession, which is the most sensible path to take?… (read more)

FPI, NYFF, and Economist Robert H. Frank applaud Senator Jeffrey Klein’s efforts to restore progressivity to the income tax

February 25, 2009. New Yorkers for Fiscal Fairness and the Fiscal Policy Institute today praised Senator Jeffrey Klein’s efforts to reform New York’s current inequitable tax system by increasing rates at the top of the income spectrum – adding, however, that the Senator’s bill simply does not raise enough revenue to sufficiently offset the onerous budget cuts proposed by the Governor. Unfortunately, the middle income tax relief in this bill will not provide stimulus if spending cuts, are in effect, … (read more)

Major education organizations release analysis showing 64 percent of school districts face cuts in excess of $15,000 per classroom

February 22, 2009. The Fiscal Policy Institute joined with the Alliance for Quality Education and other groups to publicize the grim truth about Governor Paterson’s $2.5 billion in school aid cuts. Nearly two thirds of school districts face cuts in excess of $15,000 per classroom, and sixty districts face cuts over $30,000 per classroom. Education committee chairwomen Assemblywoman Nolan and Senator Oppenheimer joined education advocates in calling for school aid restorations; the organizations called for fair share tax reform. Release (read more)

Testimony on the 2009-2010 Executive Budget – Workforce Issues

February 4, 2009. Testimony presented by FPI executive director Frank Mauro to the Senate Finance and Assembly Ways and Means Committees. The Executive Budget contains many proposals that will directly and indirectly cut jobs, exacerbating the recession in the state economy. There are other ways to close budget gaps – notably, an increase in high-end income taxes – that would do much less harm to the economy.… (read more)

How to Balance the State Budget

February 2, 2009. An op ed in the Gotham Gazette by Frank Mauro and James Parrott.… (read more)

Lighten weight of tax burden

January 27, 2009.  Both fairness and sound economics should play a role in closing New York’s budget gap. A column by James Parrott, FPI’s deputy director and chief economist, in the Albany Times Union.… (read more)

Nobel Economist: Millionaires’ Tax Is Economically Preferable

January  2009. In a March 27, 2008 letter to Governor Paterson, Majority Leader Bruno and Speaker Silver, Nobel economist Joseph Stiglitz makes a compelling case that the millionaires’ tax is “economically preferable” to raising regressive fees or cutting state spending.

Also see:

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New York’s Underinvestment in Public Higher Education

January 15, 2009. After more than a decade of financial support falling short of growing enrollment, the executive budget calls for cuts to SUNY and CUNY – at the same time that more students seek post-secondary opportunities during the economic downturn.

Governor Paterson’s proposed 2009-2010 budget features reductions in state aid to CUNY and SUNY, despite a projected increase in enrollment for 2009-2010. This report details the context for the cuts – a decade of underinvestment – and makes the … (read more)

Balancing New York State’s 2009-2010 Budget in an Economically Sensible Manner

January 14, 2009. The Fiscal Policy Institute’s nineteenth annual budget briefing. Briefing book >>(read more)