Reports, Briefs and Presentations

Business profits in New York State have grown much faster than wages since 2001

December 1, 2015. In a new analysis, the Fiscal Policy Institute finds that business profits per worker in New York State increased by 61% from 2001-13, while labor compensation per worker has risen by only 34%, and the typical worker received wage increases of 25-29%, much less than inflation. James Parrott, the Institute’s Deputy Director and Chief Economist stated: “These data confirm once again that most workers in New York have not been sharing in the fruits of the state’s economic growth over the past [...]

Anthony Troia2020-11-13T14:58:51-05:00December 1st, 2015|Economic Outlook, Economic Trends & Policy, Labor Market & Workforce, Reports, Briefs and Presentations|

Fact Checking the Empire Center-American Action Forum Analysis of NY’s Proposed $15 Minimum Wage: Flawed Methods Produce Erroneous Results

November 19, 2015. James Parrott, Deputy Director and Chief Economist of the Fiscal Policy Institute, and Paul Sonn, General Counsel and Program Director of the National Employment Law Project, released this policy brief fact checking the Empire Center/American Action Forum report Higher Wages, Fewer Jobs. The report predicts significant job losses if Governor Cuomo’s proposal to increase New York’s minimum wage to $15 is enacted. The Empire Center/American Action Forum report uses outdated economics that ignores both the troubling gap between wage and business profit growth [...]

Anthony Troia2020-11-13T14:58:51-05:00November 19th, 2015|Economic Trends & Policy, Labor Market & Workforce, Reports, Briefs and Presentations|

FPI-NELP Response to NYS Business Council Statement on Gov. Cuomo’s $15 Minimum Wage Proposal

October 8, 2015. The New York State Business Council’s statement on the Governor’s proposal to raise New York’s minimum wage to $15 by 2021 leaves out several “inconvenient” truths: 1. A phased-in minimum wage increase will boost the purchasing power of roughly 3 million low-wage New York workers, pumping that increased consumer spending into local businesses and jobs all across the state. Above all else, small businesses need customers; a minimum wage increase will provide them. 2. A higher wage floor benefits businesses because workers [...]

Anthony Troia2020-11-13T14:58:51-05:00October 8th, 2015|Economic Trends & Policy, Labor Market & Workforce, Reports, Briefs and Presentations|

Governor Cuomo’s Call for Raising New York’s Minimum Wage to $15 Statewide

September 10, 2015. FPI and the National Employment Law Project have again teamed together on a background brief supporting Governor Cuomo's announcement today proposing a statewide $15 minimum wage. The brief includes demographic data on the 3 million New York workers who would be directly affected by the proposal, along with a summary of the economic arguments in support of a higher New York minimum wage.

Anthony Troia2020-11-13T14:58:51-05:00September 10th, 2015|Economic Trends & Policy, Labor Market & Workforce, Reports, Briefs and Presentations|

Addressing the Unintended Consequences of the Property Tax Cap

June 10, 2015. In 2011 New York established a property tax cap for school districts, counties and municipalities. New York should proceed cautiously before making the cap permanent in order to gather more information on the impact of the cap. Increasing state funding of services like education, healthcare or providing targeted property tax relief such as a circuit breaker credit would be more effective and efficient ways to address high property taxes. But short of eliminating the cap, here are some ways to mitigate some [...]

Anthony Troia2015-06-10T10:49:31-04:00June 10th, 2015|City Budget, Reports, Briefs and Presentations, Tax & Budget, Tax Policy|

Comments Provided to the New York Fast Food Wage Board

June 1, 2015. FPI played an important role in the efforts to convince the New York Fast Food Wage Board in June and July 2015 to recommend a $15 wage floor for 136,000 workers in large fast-food chains. FPI materials include the following: Testimony at the Buffalo hearing of the Fast Food Wage Board, June 5, 2015 Supplemental comments to the Fast Food Wage Board, June 26, 2015 Op-ed, “Boosting the Wages of Fast-Food Workers Will Help the Economy,” in the July 20, 2015 Albany [...]

Anthony Troia2020-11-13T14:58:51-05:00June 5th, 2015|Economic Trends & Policy, Labor Market & Workforce, Letters, Reports, Briefs and Presentations, Testimony|

New Americans on Long Island: A Vital Fifth of the Economy

June 2, 2015. There are 526,000 immigrants living on Long Island, making up 18 percent of the region’s population and 20 percent of the economic output of Long Islanders, according to a study released today by the Fiscal Policy Institute, New Americans on Long Island: A Vital Fifth of the Economy. Half of immigrants overall (51 percent) work in white-collar jobs, the study found, and the large majority (61 percent) live in families earning over $80,000 a year. Immigrants represent significant numbers of the people [...]

Anthony Troia2015-06-02T08:03:11-04:00June 2nd, 2015|Migration, Reports, Briefs and Presentations|

Property Tax Relief for Low- and Middle-Income Property New Yorkers Must Remain a Priority

May 27, 2015. This report details the stark differences between the circuit breaker relief proposals advanced by the Governor and Assembly versus the flawed STAR rebate plan the Senate proposed. The report shows that both programs would provide some property tax relief but the circuit breaker credits are superior to STAR rebates in many ways. For example: Circuit breakers would address a serious shortcoming of the property tax—that payments are not linked to the taxpayers’ ability to pay. STAR rebates are the same regardless of income [...]

Anthony Troia2015-06-09T11:09:33-04:00May 27th, 2015|Press Releases, Reports, Briefs and Presentations, Tax & Budget, Tax Policy|

Real Living Wage NYC Educational Breakfast Forum

April 23, 2015, Manhattan. James Parrott delivered this presentation at the Community Church of New York for the Real Living Wage NYC Educational Forum, a gathering of New York City faith leaders committed to a "faith-based movement for racial and economic justice. Parrott uses the 2014 NYC Self-Sufficiency Standard as a basis for identifying a "real living wage" level for New York City.

Anthony Troia2020-12-21T14:48:16-05:00April 23rd, 2015|Economic Trends & Policy, Fact Sheets, Labor Market & Workforce, Reports, Briefs and Presentations|

Executive Actions on Immigrants Will Bring Increased NY Tax Revenue

April 16, 2015. A new 50-state study, Undocumented Immigrants’ State and Local Tax Contributions, by the Institute on Taxation and Economic Policy finds that undocumented immigrants’ tax contributions would increase significantly under the Obama Administration’s executive actions and even more substantially under comprehensive immigration policy reform. The report is being co-released in New York by the Fiscal Policy Institute and is particularly relevant in connection with the hearing tomorrow, Friday April 17, on executive action at the 5th Circuit Court of Appeals. The report’s key [...]

Anthony Troia2015-04-16T08:29:11-04:00April 16th, 2015|Blog, Migration, Reports, Briefs and Presentations, State Budget, Tax & Budget, Tax Policy|

Summary of Selected Tax Provisions in 2015-2016 State Budget

April 14, 2015. The Final FY 2015-16 budget is more notable for the tax proposals that were left out than for what is included. In the FY 2015-16 Executive Budget, the governor proposed three major tax changes: a new property tax circuit breaker for low- and middle-income homeowners and renters, an education tax credit, and a modest reduction in taxes on small corporations. None of these changes were included in the final budget, however, property tax relief and the education tax credit are expected to [...]

Anthony Troia2020-10-27T13:09:40-04:00April 14th, 2015|City Budget, Reports, Briefs and Presentations, State Budget, Tax & Budget, Tax Policy|

New York City’s Recovery Finally Starts Generating Wage Gains

April 13, 2015. In this report, FPI's analysis shows that New York City's recovery is finally starting to generate wage gains. After years of wage and family income declines since the 2008-09 recession, several signs are emerging of real wage growth in New York City. The three major current government economic data sets all point to fairly widespread and firmly-established wage growth beginning in 2014. Bureau of Labor Statistics (BLS) average private hourly earnings data show a 2.7 percent real gain for the six months [...]

Anthony Troia2020-11-13T14:58:52-05:00April 13th, 2015|Economic Outlook, Economic Trends & Policy, Labor Market & Workforce, Reports, Briefs and Presentations|

Budget Savings from a Minimum Wage Increase

March 27, 2015. As negotiations over New York State’s budget draw to a close, Governor Cuomo and the legislature are trying to hammer out an agreement to raise the state’s minimum wage, which is currently just $8.75 and is currently scheduled to top out at $9.00 at the end of this year. Both Governor Cuomo and the Assembly have proposed measures to raise New York State’s minimum wage, including a higher minimum wage level for New York City in the Governor’s bill, or, in the [...]

Anthony Troia2020-11-13T14:58:52-05:00March 27th, 2015|Economic Trends & Policy, Labor Market & Workforce, Reports, Briefs and Presentations, State Budget, Tax & Budget|

Comparison of the Executive, Assembly, and Senate Property Tax Relief Proposals FY 2015-2016

March 23, 2015. The governor’s Executive Budget proposal includes a significant new property “circuit breaker” that would provide relief to households (both owners and renters) whose property taxes are unreasonably high relative to their income. Circuit breakers address a serious shortcoming of the property tax—that payments are not linked to the taxpayer’s ability to pay. The State Assembly’s proposed budget also included the circuit breaker with an important modification—removing the link to the property tax cap. The Senate, in contrast, replaced the circuit breaker with [...]

Anthony Troia2015-03-24T11:11:19-04:00March 23rd, 2015|City Budget, Reports, Briefs and Presentations, State Budget, Tax & Budget, Tax Policy|