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The Fiscal Policy Institute (FPI) is an independent, nonpartisan, nonprofit research and education organization committed to improving public policies and private practices to better the economic and social conditions of all New Yorkers. Founded in 1991, FPI works to create a strong economy in which prosperity is broadly shared.

FEATURED
● Economic/Financial Crisis
● Property Tax
● Immigration
● FPI on the State Budget

ARCHIVES
● State of Working New York
● Publications
 

The Great American Jobs Scam: Corporate Tax Dodging and the Myth of Job Creation by Greg LeRoy (published July 21, 2005 by Berrett-Koehler Publishers, Inc.) Available in most local bookstores and online through all book selling services.

March 10, 2010.  Balancing the New York State Budget in an Economically Sensible Manner. New York State should balance its budget during the current economic downturn in ways that will not make economic conditions worse. The budget balancing strategies of the early 1990s should be avoided, while those of 2003 and 2009 demonstrate the benefits of more balanced approaches to budget balancing. The wisest policy choices are those that will take the least amount of demand possible out of the state economy; this brief contains a number of specific options.

March 10, 2010.  New York's Unemployment Crisis. In January 2010,  852,000 New Yorkers were unemployed, including 413,000 New York City residents. This fact sheet includes data on New York unemployment rates and payroll job losses, including FPI estimates of unemployment by gender, race, and ethnicity, and long-term unemployment.

March 1, 2010.  The Impact of the American Recovery and Reinvestment Act on New York City. Testimony presented by James Parrott before the New York City Council General Welfare Committee.

February 22, 2010.  Revenue-raising and cost-saving options. The Fiscal Policy Institute worked with the other members of the Better Choice Budget Campaign to develop a menu of revenue-raising and cost-saving options for consideration by the Governor and  Legislature as they work to adopt a balanced budget for 2010-2011.

February 10, 2010.  Testimony at the Joint Legislative Public Hearing on the 2010-2011 Executive Budget Proposal - Human Services. Presented by Carolyn Boldiston, FPI's Senior Fiscal Policy Analyst. (A revised version of this testimony was released on April 2, 2010.)

February 9, 2010.  Briefing on Mayor Bloomberg's Preliminary FY 2011 New York City Budget. Despite Wall Street's rebound, unemployment and hardship are extremely high for most New Yorkers; at best, recovery will be very gradual. This briefing finds that the Mayor's proposed budget cuts and the state budget-related contingency cuts will worsen unemployment and hardship. To mitigate the harmful impact of the budget, increased federal fiscal aid is the highest priority, followed by progressive income tax increases - less harmful than budget cuts.

February 3, 2010.  New York State's Economic and Fiscal Outlook for 2010-2011. The Fiscal Policy Institute's twentieth annual budget briefing, revised.

February 1, 2010.  Testimony at the Joint Legislative Public Hearing on the 2010-2011 Executive Budget Proposal - Economic Development. Presented by James Parrott, FPI's Deputy Director and Chief Economist.

January 2010.  Analyzing the Economy of a Large, Urban County: The Case of Kings County, New York. An article by James Parrott that shows available data (in this case, for Brooklyn - Kings County) can be used to estimate the economic impact of the American Recovery and Reinvestment Act (ARRA) at the county level. Published in The Journal of County Administration, Parrott's article begins on page 3 of the issue; see also an introduction by the president of the Brooklyn Chamber of Commerce (p. 1) and an editorial touting such research (p. 10).

January 27, 2010.  Testimony on Employee Misclassification in New York's Underground Economy. Presented by James Parrott, FPI's Deputy Director and Chief Economist, to the Assembly Labor Committee. Research shows that misclassification of employees as so-called independent contractors places a significant burden on taxpayers (including unpaid income taxes as well as avoidance of unemployment benefits and health insurance premiums) and has the broader effect of weakening job security and even physical safety. Over decades, government has established employment standards and social insurance systems to protect workers and responsible businesses from those who would cut corners. Vigorous enforcement is critically important.

January 13, 2010.  Testimony on Employee Misclassification in New York's Underground Economy. Presented by James Parrott, FPI's Deputy Director and Chief Economist, to the Senate Labor Committee.

December 21, 2009.  New York City in the Great Recession: Divergent Fates by Neighborhood and Race and Ethnicity. Current unemployment rates at a neighborhood level for New York City, and estimates of the unemployment rate by race/ethnicity and gender: the numbers show huge variations from neighborhood to neighborhood and also within neighborhoods. For example, while the overall unemployment rate in New York City was 10.1 percent in the third quarter of 2009, unemployment was 5.1 percent on Manhattan's Upper East and West Sides in the third quarter, compared to 15.7 percent in the South and Central Bronx and 19.2 percent in Brooklyn's East New York neighborhood. More, including an interactive map >>

December 21, 2009.  Job Creation Bills to be on Washington's Agenda in 2010. By James Parrott, FPI's deputy director and chief economist, who writes regularly for Gotham Gazette's Economy section.

December 17, 2009.  Recovery Act Keeping Roughly 419,000 New Yorkers Out of Poverty. New estimates released today by the Center on Budget and Policy Priorities (CBPP) are based on seven provisions of the American Recovery and Reinvestment Act (ARRA) that directly affect individuals: three tax credits for working families, two unemployment insurance expansions, an increase in food stamps, and a one-time payment for retirees, veterans, and people with disabilities. Not only is the Recovery Act is creating jobs, helping close state and local budget gaps, and boosting the broader economy, it is also softening the recession's impact on poverty by directly lifting family incomes. Press release with link to study >>

December 15, 2009.  New regional data shows robust economic contribution of immigrants on Long Island and in the Hudson Valley. Immigrants make up 16 percent of the combined population of Nassau and Suffolk counties, and are responsible for 18 percent of total economic output; in the 15-county Hudson Valley region, immigrants make up 13 percent of the population, and are responsible for 16 percent of total economic output. Two regional reports show what jobs immigrants hold in the local economies as well as the countries they came from. More about immigration and economic activity >>

November 30, 2009.  New report shows robust immigrant contribution to GDP in the country's 25 largest metropolitan areas. In the 25 metro areas combined, immigrants account for 20 percent of economic output and 20 percent of the population. The same basic relationship holds true, with slight variation, for each of the 25 areas, from metro Pittsburgh, where immigrants represent 3 percent of population and 4 percent of GDP, to metro Miami, where immigrants make up 37 percent of the population and 38 percent of GDP. Immigrants and the Economy also looks at the wide range of occupations held by immigrants and other reasons immigrant economic contribution is so consistently strong, with a special focus on the five largest metro areas in the East. More >>

November 19, 2009.  State of Working New York City 2009: A Tale of Two Recessions. This report from FPI is an examination of the impact of the country's "Great Recession" on the New York City economy. The data show the shallowness of the previous expansion from 2003 to 2007 before the onset of the Great Recession, and recession-related job losses and rising economic insecurities. The report also explores in detail the character and extent of unemployment in New York City - and finds that despite Wall Street's faster-than-expected recovery, the city's Main Street economy continues to struggle with high unemployment and widespread economic insecurity. More >>

November 18, 2009.  Who Pays? A Distributional Analysis of the Tax Systems in All 50 States. A new study from the Institute on Taxation and Economic Policy (ITEP), co-released by FPI, shows that middle-income families in New York pay a higher share of their income in state and local taxes (12.0 percent) than do the state's richest families (who pay only 9.4 percent of their income in state and local taxes). More >> Data for New York. Full report, 50 states.

November 5, 2009.  A Better Choice for Addressing New York State's Projected Budget Gaps, by Frank Mauro and Ron Deutsch.

November 5, 2009.  Advocates Decry Mid-Year Budget Cuts in Governor's Deficit Reduction Plan: Urge Legislature to Look at "Less Painful" Alternatives. FPI, New Yorkers for Fiscal Fairness, and a diverse group of statewide organizations joined forces to publicize the harmful impact of many of the governor's proposed cuts. Press release >>

October 26, 2009.  Testimony on Governor Paterson's Proposed 2009-2010 Deficit Reduction Plan. Presented by James Parrott, Deputy Director and Chief Economist of FPI, to the Senate Finance Committee.

October 26, 2009.  An Innovator Takes a Fairly Conventional Approach. By James Parrott, FPI's deputy director and chief economist, who writes regularly for Gotham Gazette's Economy section.

October 21, 2009.  Testimony on Governor Paterson's Proposed 2009-2010 Deficit Reduction Plan. Presented by Frank Mauro, Executive Director of FPI, and Ron Deutsch, Executive Director of New Yorkers for Fiscal Fairness, to the Assembly Ways and Means Committee. Mauro and Deutsch discussed why $1.8 billion of the $3 billion in deficit reduction actions proposed by Governor Paterson for the current state fiscal year would harm the still-fragile state economy. The Governor's other $1.2 billion in gap-closing recommendations together with additional actions that will not hurt the state economy should be used to ensure that the state ends the current fiscal year in balance. Changes in law that would affect the state's finances and its economy on an ongoing basis should be reviewed in a thorough and well-informed manner as part of the Legislature's consideration of the Governor's 2010-11 Executive Budget - with all options on the table, including the budget-balancing alternatives recommended by Mauro and Deutsch in this testimony.

October 15, 2009. Statement from FPI Executive Director Frank Mauro on Governor Paterson's call to cut state spending by $1.8 billion.

September 24, 2009.  Brooklyn Labor Market Review. Commissioned by the Brooklyn Chamber of Commerce, this review finds that the devastating blow dealt to New York City by the current recession has been less painful to Brooklyn. American Recovery and Reinvestment Act (ARRA) dollars are having an impact in the borough, and Brooklyn has experienced job growth in some sectors in spite of losses citywide. Press release, full report.

September 22, 2009.  Amid Talk of Recovery, Jobless Rates Reach Double Digits. By James Parrott, FPI's deputy director and chief economist, who writes regularly for Gotham Gazette's Economy section.

September 16, 2009.  State of Working New York 2009: Unemployment and Economic Insecurity in the Great Recession. This report is the latest of FPI's biennial examinations of the conditions facing workers and working families in New York State, released as the country hobbles through the worst economic crisis - the steepest economic drop and the longest period of job loss - since the 1930s. We are living through what's been justly termed "The Great Recession." The report outlines significant ways in which the federal and state governments can support recovery. More >>

August 11, 2009.  New Federal Dollars for New York: The TANF Emergency Contingency Fund in the American Recovery and Reinvestment Act of 2009. Part III of this ongoing series of briefs from the Fiscal Policy Institute focuses on how New York could use the TANF Emergency Contingency Fund (ECF). This paper examines scenarios program by program as well as for TANF as a whole, and demonstrates that applying for upfront funding based on anticipated spending (rather than applying for reimbursement after the fact) could increase federal dollars for New York five-fold. The analysis includes a timeline of awards from the ECF as well as the regular TANF contingency fund. More >>

July 23, 2009.  Federal minimum wage boost affects 123,000 New Yorkers - but only slightly. On July 24, an estimated 123,000 New York workers will benefit when the minimum wage rises from the state's minimum of $7.15 an hour to the new federal minimum of $7.25 an hour. The minimum wage in New York will still lag that in 13 other states and the District of Columbia. And, a full-time worker will still not earn enough to keep a family of three out of poverty.

July 2, 2009.  Albany Inaction Costs Jobless New Yorkers $267 Million. A potent tool for fighting downturn, unemployment benefits deliver economic stimulus where it's most needed. But New York's jobless benefit has been frozen since 2000, and now lags behind dozens of states. This report from FPI and the National Employment Law Project shows that upstate counties have been hurt the most by the legislature's failure to increase unemployment benefits. More >>

June 24, 2009.  Retail Wages in New York City: Testimony before the Bronx Community Board 7. Presented by research associate Michele Mattingly at the board's public hearing on the Kingsbridge Armory Project. As New York City leaves behind an economic era characterized by a financial sector distorted by reckless speculation, it is imperative that we rebuild the city economy on the basis of good, family-supporting jobs that create and sustain the middle-class. Related: Low Wages, No Bargain, FPI's study of the retail sector in New York, December 2008.

June 11, 2009.  New Federal Dollars for New York: The TANF Emergency Contingency Fund in the American Recovery and Reinvestment Act of 2009. This ongoing series of briefs from the Fiscal Policy Institute looks into the rules governing the new Emergency Contingency Fund (ECF), reviews New York's experience with the regular Contingency Fund, and explores the situations under which New York may qualify for ECF funds.

May 21, 2009.  Testimony before the Senate Select Committee on Budget and Tax Reform. Presented by chief economist James Parrott at the committee's  public hearing on New York State's business tax reform. New York could have a more rational and fairer business tax system by adopting a rule to fix problems with the way multi-state corporate income is apportioned, by revamping its overly generous Investment Tax Credit, and by adjusting its taxation of unincorporated businesses.