January 6, 2014. Governor Cuomo in unveiling his tax proposals today has identified a key issue in growing the state’s economy—reducing the property tax burden on New Yorkers, and we agree. The Fiscal Policy Institute has long proposed a circuit breaker as a solution to the burden of high property taxes on moderate and lower income families and to ensure that retirees are not forced out of their homes. What the governor could have added is that creating strong, stable, … (read more)
December 20, 2013. Last week, Governor Andrew Cuomo accepted the final report of the New York State Tax Relief Commission that he had appointed earlier this Fall. This commission, which was co-chaired by former Governor George Pataki and former State Comptroller H. Carl McCall, had been charged by Governor Cuomo with identifying ways to provide property and business tax relief to New York’s homeowners and businesses.
Today, the Fiscal Policy Institute joined with six of New York’s leading progressive groups … (read more)
November 14, 2013. Statement from Ron Deutsch, Executive Director, New Yorkers for Fiscal Fairness, and Frank Mauro, Executive Director, Fiscal Policy Institute.
Any discussion of fair taxation in New York must acknowledge that our state has the greatest income inequality in the nation and that our tax system is partially to blame. We are experiencing record child poverty rates and levels of hunger and homelessness that are unprecedented. Too many of our residents are suffering and struggling to make ends … (read more)
Tax Reformers Urge Governor and Legislature to Take the Politics out of the Tax Debate—And Give the Public a Voice!
September 4, 2013. Statewide tax reform groups and activists from across New York State gathered at the State Capitol today to urge the Governor and the State Senate to “shed a little sunshine” on the tax reform debates that have left many New Yorkers “out in the cold.”
The NYS Senate (through its Finance Committee, and its Investigations and Government Operations Committees) is holding “Invitation Only” hearings across the state to “Review Existing Tax Policy and Discuss Reform Initiatives” and … (read more)
September 4, 2013. In testimony before the Senate Standing Committee on Finance and the Senate Committee on Investigations and Government Operations, Frank Mauro, FPI’s Executive Director, expressed support for a thorough review of the tax system from a number of perspectives. He indicated that back in December 2011, Governor Cuomo and the legislative leaders joined in calling for a thorough review of the fairness of the New York tax system and agreed that fairness is one important basis for evaluating … (read more)
July 9, 2013. A news article in Newsday covers the release of the new report by the Institute on Taxation and Economic Policy and Fiscal Policy Institute regarding immigration status change and possible tax revenue for states.
David Dyssegaard Kallick, immigration research director at the Fiscal Policy Institute, said there is no better alternative than for all those immigrants to become taxpayers.
“As long as we make sure we don’t create a new undocumented population, legalizing the people already here … (read more)
July 9, 2013. Despite the concerns raised by economists across the political spectrum, a somewhat revised version (A. 8113 and S. 5903) of Governor Cuomo’s “Tax-Free New York” proposal was introduced on June 20, 2013, passed by both houses of the Legislature on June 21, 2013, and signed into law by the Governor on June 24, 2013. The Fiscal Policy Institute’s June 11, 2013 brief on the original proposal concluded that that it was bad tax policy and bad … (read more)
June 11, 2013. Frank Mauro of the Fiscal Policy Institute joined with community, student and labor groups at a press conference in the Legislative Office Building in Albany to urge the Legislature to reject the Governor’s ill-conceived Tax-Free NY proposal. The press conference was organized by Ron Deutsch, the executive director of New Yorkers for Fiscal Fairness.
June 11, 2013. This brief concludes that Tax-Free New York is bad tax policy and bad economic development policy. From a tax policy perspective, the Tax-Free NY proposal is inconsistent with the two long-established pillars of tax fairness—horizontal equity and vertical equity. In addition, New York State’s past experience with geographically-targeted business tax incentives should raise huge red flags regarding the efficacy of the proposal as an economic development strategy.
Besides being diametrically opposed to the principles of tax fairness, … (read more)
Walmart and other large, low-wage employers will benefit financially from New York’s new Minimum Wage Reimbursement Credit.
April 5, 2013. Unless disclosure requirements are clarified, we’ll probably never know exactly how much Walmart and other large, low-wage employers receive in government subsidies under New York’s new Minimum Wage Reimbursement Credit (MWRC). But based on the best data available, we estimate that Walmart is likely to receive MWRC subsidies of between $53 million and $85 million over the next five years.
New York’s new MWRC will provide employers a tax credit for the hours worked by students between … (read more)