FPI, NYFF, and Economist Robert H. Frank applaud Senator Jeffrey Klein’s efforts to restore progressivity to the income tax

February 25, 2009. New Yorkers for Fiscal Fairness and the Fiscal Policy Institute today praised Senator Jeffrey Klein’s efforts to reform New York’s current inequitable tax system by increasing rates at the top of the income spectrum – adding, however, that the Senator’s bill simply does not raise enough revenue to sufficiently offset the onerous budget cuts proposed by the Governor. Unfortunately, the middle income tax relief in this bill will not provide stimulus if spending cuts, are in effect, paying for those tax cuts. Press release accompanied by a statement from Cornell University economist Robert Frank.