Year

Preliminary Analysis: Budget Takes One Step Forward and Two Steps Back

January 21, 2015.

Ron Deutsch, Executive Director

“The Governor’s proposal takes some positive steps forward to deliver targeted property tax relief and address poverty in the state. However, for every step forward we take two steps back if we don’t dramatically increase aid to our fiscally stressed schools and local governments and commit substantial resources to ending child poverty in our state.”

James Parrott, Deputy Director and Chief Economist

“To really help the poor and the middle class, we

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New Analysis Confirms Low- and Middle-Income New York Taxpayers Pay Higher Tax Rate than the Richest New Yorkers

January 16, 2015. A new study just released by the Institute on Taxation and Economic Policy (ITEP) and the Fiscal Policy Institute (FPI) finds that the wealthiest New Yorkers are paying a smaller share of their income in state and local taxes than lower-income families that are struggling everyday to make ends meet. New York households with incomes under $100,000 pay higher effective state and local tax rates, ranging from 10.4% to 12%, than the richest 1% of… (read more)

FPI Commends Governor Cuomo for Advancing Middle Class Circuit Breaker—Targeted Tax Relief Tied to Income Is the Most Effective Mechanism

January 14, 2015. Governor Cuomo just announced a $1.66 billion property tax credit program (commonly referred to as a “Circuit Breaker”) to help ease the burden on working class families who are paying too much of their income in property taxes.

The Fiscal Policy Institute (FPI), working with our partners in the Omnibus Property Tax Consortium, has been calling for a targeted circuit breaker for years.  “We are pleased that the Governor announced a circuit breaker proposal that targets

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Immigrant “Main Street” Business Owners Playing an Outsized Role

January 14, 2015. Immigrants are a little more likely to own businesses than their U.S.-born counterparts, but they are a lot more likely to own Main Street businesses such as grocery stores, restaurants, and barber shops, finds a new study released today by the Fiscal Policy Institute and Americas Society/Council of the Americas. Immigrants make up 16 percent of the labor force and 18 percent of business owners, but 28 percent of Main Street businesses (defined as retail, food services… (read more)

Immigrants Are More Likely to Be Business Owners …but They’re Not “Super-Entrepreneurs”

January 14, 2015. Immigrants are entrepreneurial—that is by now well established. But how much more is not as widely understood.

As I was working on a report about immigrant business ownership, Bringing Vitality to Main Street, released today by the Americas Society/Council of the Americas with the Fiscal Policy Institute, I dug into what the research shows.

What I found is that there is broad consensus that immigrants are a little more likely to own businesses than their U.S.-born counterparts,… (read more)

New York City Taxes Ripe for Reform

January 13, 2015. The City of New York taxes its wealthiest residents much less than middle- and low-income residents, and state and local officials should fix three major City tax breaks that expire this year, according to a new report from the Fiscal Policy Institute (FPI). In a sweeping report that reviews decades of tax changes and trends, FPI pinpoints inequities, tallies the cost of broken tax breaks, and urges tax reforms that reflect today’s economy and current challenges.… (read more)

Wage Standards are Key to Reversing the Erosion of Wages and Living Standards in New York City

December 16, 2014. Despite considerable growth in the New York City economy over the past two decades, very little of that growth has trickled down to the average worker and his or her family, according to our new report. Wage standards like the minimum wage and the living wage are critical in ensuring that there is a floor under the job market and that workers are adequately paid. Prevailing wage standards, however, are a key means to ensure that… (read more)

42% of NYC residents don’t have enough income to cover the basic necessities of a Self-Sufficiency budget, according to a new report.

December 2, 2014. According to the new 2014 edition of the Self-Sufficiency Standard for NYC, released today by the Women’s Center for Education and Career Advancement at a forum at the New School, the cost of a basic family budget in New York City has increased by 45% since 2000 while the median earnings of adults increased by only 17% over the past 14 years. The report, Overlooked and Undercounted: the Struggle to Make Ends Meet in New York City,… (read more)

President’s Immigration Action Expected to Benefit Economy

November 21, 2014. In response to President Obama’s announcement that he will use the power of the executive office to shield about 5 million people from deportation and give them authorization to work, the Fiscal Policy Institute has prepared answers to the following questions.

What are the economic implications of administrative relief?

The Fiscal Policy Institute expects a 5 to 10 percent increase in wages for the roughly 5 million workers expected to be eligible for legal work status. A… (read more)

Fiscal Policy Institute Names Ron Deutsch as Interim Executive Director

November 17, 2014. The Board of Directors of the Fiscal Policy Institute announced today that it has appointed Albany veteran Ron Deutsch as Interim Executive Director effective immediately.

After a year of dedicated service, Dr. Frederick G. Floss has decided to return to his position as professor of economics and finance at Buffalo State College but will continue to work with the organization as a Senior Fellow.

“Income inequality and tax fairness will be two of the most important issues… (read more)