Year

Hundreds of thousands of low-income families would benefit from a New York minimum wage increase

July 17, 2014. David Neumark’s piece in the July 6 Wall Street Journal (“Who Really Gets the Minimum Wage?”) argues that because some low-wage earners are in high-income families, increasing the minimum wage isn’t a very effective way to reduce poverty. In particular, he cites research to the effect that “if we were to raise the minimum wage to $10.10 nationally, 18% of the benefits of the higher wages (holding employment fixed) would go to poor families [but] 29% would… (read more)

Parrott Presentation: Confronting New York City’s Retirement Crisis

June 17, 2014. The New York City Central Labor Council and the Schwartz Center for Economic Policy Analysis at The New School sponsored a June 17 conference, Confronting New York City’s Retirement Crisis. FPI’s James Parrott made one of the opening presentations at the conference. Other speakers included State Comptroller Thomas DiNapoli, New York City Comptroller Scott Stringer, and New York City Public Advocate Letitia James, as well as leading labor union officials, union pension experts, and academic and… (read more)

Over one-third of New York City employees are paid less than $14 an hour; workers of color are twice as likely to be low-wage

June 17, 2014. The Fiscal Policy Institute (FPI) released a new data brief today showing the sector of employment and race/ethnicity for New York City workers paid less than $14 an hour. On an annual basis, $14 an hour would put a family $1,900 below the $31,039 poverty threshold for a New York City family.

Altogether, 1.2 million New York City workers are paid less than $14 an hour, 36 percent of all public and private wage and salary… (read more)

70% of Fortune 500 Companies Use Offshore Tax Havens

June 9, 2014. In 2013, 70% of Fortune 500 companies used tax havens. More of these companies were based in New York than in any other state, depriving New York of considerable tax revenue.

The practice of “booking profits” in foreign countries where there are few or no taxes is examined in a new study released yesterday by U.S. Public Interest Research Group (USPIRG) and Citizens for Tax Justice (CTJ), “Offshore Shell Games 2014: The Use of Offshore(read more)

Reform of NY’s TDI Program and Provision of Family Leave Insurance: Estimated Costs

June 5, 2014. In this report, FPI estimates costs for increasing workers’ weekly wages during temporary disability leaves and extending those benefits to family leaves under proposed legislation in the Assembly and Senate.

As an increasing number of women and mothers participate in the workforce, federal and state laws and policies have not met the needs of both male and female workers who must balance taking care of themselves and their families with the responsibilities of work. Under Temporary… (read more)

Testimony to Raise the Statewide Minimum Wage and Allow Localities to Set a Higher Minimum Wage

June 2, 2014. FPI’s James Parrott submitted testimony for the June 2 New York State Senate Labor Committee hearing on several minimum wage-related bills, including five bills that would authorize local governments to enact minimum wages above the statewide level, and one bill that would establish a statewide “living wage” of $15 an hour, indexed to inflation, for certain large employers and chain stores. The FPI testimony reviewed several reasons why it makes sense for New York State to… (read more)

Immigrants and Local Economic Growth: Realizing New York’s Full Potential

May 22, 2014. How can lifting barriers to economic advancement to immigrants also provide a boost to the New York State economy?

In November, 2013, the Fiscal Policy Institute convened a multi-day retreat to discuss this question. Advocates, organizers, service providers, researchers, and people working in policy development joined FPI at the Blue Mountain Center in the Adirondacks for a series of highly engaging conversations. It was a rare and warmly welcomed instance of people coming together to discuss these… (read more)

NYS Can Help Low-income Working Families with Children by Increasing its Earned Income Tax Credit

May 20, 2014. It comes as no surprise to working families that New York State’s tax system is fundamentally unfair. Low- and middle-income workers pay, on average, a much higher share of their income in state and local taxes than the highest income earners. According to analysis by the Washington, D.C.-based Institute on Taxation and Economic Policy, the 40% of New York’s tax filers with the lowest incomes pay at least 10% of their income in state and local taxes… (read more)

De Blasio Pulls Off Deft Budget-Balancing Parlay

May 19, 2014. In this op-ed in The Chief, James Parrott discusses Mayor de Blasio’s Executive Budget and the impact of the UFT labor settlement.

Statement on New York City Budget Accounting Action

May 12, 2014. Today’s joint announcement by Mayor de Blasio and Comptroller Stringer clarifies a City budget accounting question regarding an obligation the City incurred in connection with the recent labor settlement with the United Federation of Teachers.  The payments in question pertain to UFT members retiring after June 30, 2014 and cover wage increases for the first two years (2009 and 2010) of the recently settled contract.

Officials of both the Mayor’s and the Comptroller’s offices have confirmed that… (read more)