Press releases

FPI Policy Brief Press Statement: Time to Expand the Millionaires’ Tax

FPI Policy Brief: Time to Expand the Millionaires’ Tax

 The Fiscal Policy Institute (FPI) recently released a Policy Brief analyzing New York’s gross income disparity, recommending common sense solutions to narrowing the gap.

Since the 1980s, the income gap in the United States—as indicated by the wealthiest 1 percent’s share of total income—has grown significantly. In fact, the Congressional Budget Office (CBO) has been compiling income data since 1979, and has found that the top 1 percent’s income has grown … (read more)

Press Release: Over 80 Wealthy New Yorkers Urge Governor Cuomo to Extend and Expand Millionaires’ Tax

FOR IMMEDIATE RELEASE: March 21, 2017

Contact:

Ron Deutsch, Fiscal Policy Institute, 518-469-6769, deutsch@fiscalpolicy.org

Mike Leyba, Responsible Wealth, 562-266-4357, mleyba@faireconomy.org

Over 80 Upper-Income New Yorkers Urge Governor Cuomo and Legislature to Extend and Expand the Millionaires’ Tax

As New York State braces for proposed federal budget cuts that could have a devastating impact on health care, education and infrastructure investments across the state, more than 80 New York residents with incomes in the top 1% have sent an open letter … (read more)

Millionaires for Millionaires’ Tax PR

FOR IMMEDIATE RELEASE: March 21, 2017

Contact:

Ron Deutsch, Fiscal Policy Institute, 518-469-6769, deutsch@fiscalpolicy.org

Mike Leyba, Responsible Wealth, 562-266-4357, mleyba@faireconomy.org

80 Upper-Income New Yorkers Urge Governor Cuomo and Legislature to Extend and            Expand the Millionaires’ Tax

As New York State braces for proposed federal budget cuts that would have a devastating impact on health care, education and infrastructure investments across the state, more than 80 New York residents with incomes in the top 1% have sent an open letter to … (read more)

Economic and Tax Contributions of Undocumented Immigrants in NY

Tuesday, March 2. As the Trump Administration talks about a program of mass deportation – or, who knows, perhaps not? – the question of what contribution undocumented immigrants make to the New York economy is more important than ever. This new report finds that unauthorized immigrants are responsible for $40 billion, or three percent, of New York’s economic output, and make up five percent of the labor force. They also pay taxes—a total of $1.1 billion in state and local … (read more)

Congress’ top 2017 priority should be poverty alleviation by EITC Expansion

January 27, 2017. As part of a campaign launched earlier this fall, and in recognition of EITC Awareness Day, over 60 New York-based organizations representing hundreds of thousands of residents throughout the state sent a letter to Senator Schumer urging him to stand strong in his support for expanding the federal Earned Income Tax Credit (EITC) for working adults not raising children in the home. This expansion would help 1.1 million workers (466,000 of whom are actually taxed into – … (read more)

Statement on Governor Cuomo’s FY 2018 Budget Proposal

January 18, 2017. Making state and local taxes less regressive in New York is a top priority for our organization. We are pleased to see the Executive Budget proposal include an extension of the millionaires’ tax and applaud the Governor for making this the centerpiece of his new budget. Given the great income disparities in our state, we think the Governor and the legislature should go further. We would like to see the millionaires’ tax made permanent and to … (read more)

New Census Data Show Improvement in Poverty and Incomes in New York State

September 19, 2016. New York has reason to be optimistic as poverty is declining and incomes are on the upswing, according to new data from the U.S. Census Bureau.

FPI notes that there were significant declines in the overall poverty rates for New York State and New York City in 2015 from 2014 (but no other significant year-over-year changes).

The New York State poverty rate for 2015 was 15.4%, down 0.5% from 2014 (15.9%) resulting in approximately 90,000 fewer New … (read more)

New York State Leads Nation in Income Inequality

June 16, 2016. In Income inequality in the US by state, metropolitan area, and county, a new report published by the Economic Policy Institute (EPI) for the Economic Analysis and Research Network (EARN), Mark Price, an economist at the Keystone Research Center in Harrisburg, PA and Estelle Sommeiller, a socio-economist at the Institute for Research in Economic and Social Sciences in Greater Paris, France detail the incomes of the top 1 percent and the bottom 99 percent by state, … (read more)

Analysis of Refugee Groups Provides Evidence of High Levels of Integration Across Indicators

June 16, 2016. The Fiscal Policy Institute and the Center for American Progress released a report that analyzes how four key refugee groups—Bosnians, Burmese, Hmong, and Somalis—in the United States are doing on key indicators of integration, such as wages, labor market participation, business ownership, English language ability, and citizenship. As the United States and other countries wrestle with how to handle the sharp rise in the number of people around the globe displaced by conflict and persecution, the long-term … (read more)

Nearly 1 million NYS workers will benefit from new Federal overtime rule

May 18, 2016. FPI applauds the White House and Labor Secretary Thomas Perez in announcing a new federal overtime regulation today requiring overtime pay for most salaried workers earning up to $47,476 a year (or $913 weekly). FPI’s James Parrott stated, “This will benefit an estimated 982,000 New York salaried workers with either additional pay for more than 40 hours a week, or by scaling back the long hours they work each week without any reduction in pay.”

The Washington, … (read more)