January 31, 2017. New York City Comptroller Scott M. Stringer, the New York Immigration Coalition, the Fiscal Policy Institute, elected officials and immigration advocates today the release of new analyses of the fiscal costs and benefits of expanding access to driver’s licenses to all New Yorkers, without regard to immigration status, and the launch of a new campaign announced, Green Light NY: Driving Together. The announcement of the campaign comes from advocates and elected officials as Comptroller Stringer and the … (read more)
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)
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)
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)
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)
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)
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)
March 31, 2016. The Fiscal Policy Institute is pleased to hear that a deal has been reached on increasing the minimum wage and that New York is on a path to $15 for all workers. This historic decision will provide wage increases to over 3.1 million New Yorkers that need and deserve a raise. Approximately 46 percent of workers benefiting from this increase, those in New York City, will see their wages rise to $15 per hour by the end … (read more)
March 23, 2016. In a brief, the Fiscal Policy Institute states that gradually raising the New York State minimum wage from its current level of $9/hour to $15/hour by 2019 in New York City and mid-2021 in the rest of the state would give a much-needed raise to 1.1 million immigrant workers.
In all, there are 3.2 million New York workers who will benefit from the phased-in wage increase, which would on average increase wages by $4,900 per year. These … (read more)
March 21, 2016. Some of the wealthiest New Yorkers have sent an open letter to Governor Andrew Cuomo and the New York State Legislature urging passage of the “1% Plan for New York Tax Fairness” to replace the temporary ‘millionaires tax’ set to expire at the end of next year. The Fiscal Policy Institute’s 1% Plan calls for new tax rates ranging from 7.65% to 9.99% applied to new tax brackets starting at $665,000, the income threshold for the top … (read more)