February 10, 2014. Executive Director Fred Floss testified before the Senate Finance and Assembly Ways and Means Committees on the Governor’s 2014-2015 Proposed Budget and Financial Plan. Floss noted the proposal for FY2015 is contractionary, since it cuts $2 billion in expenditures and only reduces taxes by $480 and will therefore be a drag on economic growth in New York State. He also commented on a number of tax proposals including the property tax freeze, corporate tax reductions and the … (read more)
January 22, 2014. In his budget message, Governor Andrew Cuomo rightly touts his strong record of leadership in Albany. However, when it comes to the state budget, the governor’s approach is out of focus and falls far short in making the essential public investments to expand opportunities for the millions of New Yorkers in poverty or still struggling to pull away from the Great Recession of 2008-09.
The question is whether the Governor’s approach to the budget is the right … (read more)
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)
June 24, 2011. Governor Cuomo won a great political victory in getting his 2011-2012 budget adopted on time and with very few changes. And it now looks like the Legislature will be enacting – again with very few changes – the very tight cap on property tax levies that the Governor spelled out during his 2010 campaign. This brief examines how the New York economy fared, compared to other states, under the more balanced fiscal policies of recent years. But … (read more)
Proposed New York property tax cap is much more restrictive than the Massachusetts cap after which it is supposedly modeled
June 22, 2011. No lawmaker or taxpayer should be one bit reassured by the Massachusetts experience with a tax cap. New analysis from FPI’s Frank Mauro shows what a New York-style tax cap would mean if it had been in effect in Massachusetts over the last decades. Property tax revenues would be less than half what they are today, with devastating implications for the entire array of locally-funded public services. Read report >>… (read more)