Reports, briefs and presentations

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
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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 … (read more)

Comparison of the Executive, Assembly, and Senate Education Proposals FY 2015-2016

March 24, 2015. The governor’s Executive Budget proposal would increase school aid by $1.07 billion. The increase in school aid is contingent on passage of a package of changes to teacher evaluation, tenure, and other procedures called the Education Opportunity Agenda. The budget also includes an Education Tax Credit which would provide a large credit for donations to schools and the Dream Act which would provide tuition assistance to undocumented immigrants who came to the country as children. The Assembly’s … (read more)

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, … (read more)

Briefing on Mayor deBlasio’s Preliminary FY 2016 NYC Budget: Addressing Needs and Budgeting Cautiously as the Recovery Progresses

March 10, 2015. FPI’s FY 2016 New York City budget briefing includes:

  • An overview of the Mayor’s Preliminary FY 2016 Budget proposal, with a particular focus on new human services spending initiatives in the context of changes in human services spending in recent years.
  • The social and economic context in New York City at the beginning of 2015: the unevenness of the recovery and wage, income and employment trends. The presentation will review the extent and persistence of low wages
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Briefing on Mayor deBlasio’s Preliminary FY 2016 NYC Budget: Addressing Needs and Budgeting Cautiously as the Recovery Progresses

March 10, 2015. In his briefing of NYC Mayor Bill deBlasio’s second budget, FPI’s James Parrott notes:

  1. several positive budget changes;
  2. strong job and tax growth, but uneven gains for workers and families;
  3. budget outlook improving; and
  4. items still to be addressed on the budget front.
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Policy Brief: Property Tax Relief (Circuit Breaker)

March 5, 2015. The property tax relief plan (circuit breaker) proposed by the governor would help low- and middle-income New Yorkers that are struggling to pay their taxes and should be adopted with a few changes that would make it even more effective.

The governor’s Executive Budget proposal includes a significant new property tax “circuit breaker” that would provide relief to households whose property taxes are unreasonably high relative to their income. Currently, 33 states and the District of Columbia … (read more)

Policy Brief: Education Tax Credit

March 2, 2015. The Executive Budget includes an Education Tax Credit (ETC) that would provide individuals and businesses with a substantial credit against income taxes owed for donations to private and public schools, or scholarship organizations. The governor’s legislation proposes a 75 percent credit rate, with individual credit amounts capped at $1 million. Any unused credit could be carried over to a subsequent year. Both businesses and individuals would be eligible to receive the credit on personal or corporate income … (read more)

New York State Economic and Fiscal Outlook 2015-2016

February 10, 2015. In its 25th annual New York State briefing book, the Fiscal Policy Institute analyzes and comments on Governor Andrew Cuomo’s 2015-2016 Executive Budget.

Governor Andrew Cuomo’s Executive Budget proposal takes some positive steps forward in clearly acknowledging, for the first time in his tenure, the incredible child poverty and income inequality that exist in our generally affluent state and recognizing the need to give greater property tax relief to those who need it most rather than … (read more)

Living Wage and Minimum Wage Efforts

July 30,  2015. Given the long-standing gap between the growth in wages and productivity that has eroded living standards for most workers and their families in New York and around the country, raising the wage floor has become an economic policy imperative. FPI has been at the forefront in efforts in New York State and New York City to raise wages for low-wage workers.

FPI played an important role in efforts to convince the New York Fast Food Wage Board … (read more)