Fiscal Policy Institute (FPI) Nonprofit Research & Education Organization

City Council’s Housing Bills Would Make Housing Less Affordable
Executive Summary The City Council will likely vote next week on a series of “term sheet bills” that would legislate new rigid restrictions on city-financed affordable housing development and preservation. Int 1433-2025: A bill that requires all housing projects receiving public subsidy from the City to contain a minimum [...]
The State Budget Outlook
Download Full Report Executive Summary New York State’s Division of the Budget (DOB) recently published its mid-year budget update, which forecasts considerable budget gaps in the years ahead: an apparently staggering $26.8 billion gap over the next four years before [...]
New York’s Millionaires Will Get a $12 Billion Federal Tax Cut Next Year
Download PDF On July 4, 2025, President Donald Trump signed into law the federal reconciliation legislation known as the “One Big Beautiful Bill Act” (OBBBA), which enacted $4.5 trillion of tax cuts and reduced federal outlays for Medicaid and SNAP by $1.2 trillion. Democrats have decried the bill [...]
How New Mexico Will Pay for Universal Childcare
New Mexico will allow residents of all income levels receive childcare subsidies—what lessons can New York learn? Download PDF Starting November 1, 2025, New Mexico will remove all income limits for its childcare assistance program, allowing New Mexico residents of all income levels to receive childcare [...]
Public Payers Control Healthcare Spending Better than Private Insurers
The OBBBA could threaten one of the signature accomplishments of the ACA: Creating a viable individual insurance market in which middle-class people can purchase high-quality insurance at a reasonable price.
New York Will Lose $15.4 Billion Per Year Under The “One Big Beautiful Bill Act”
The OBBBA spending cuts are concentrated in Medicaid and food stamps (SNAP), with devastating effects for New Yorkers. The bill will cost the New York State government $15.4 billion annually and kick 1.5 million New Yorkers off their health insurance, more than doubling the statewide uninsured population.
Has New York Already Entered Stagflation?
Stagflation is the deadly combination of low growth and high inflation. With the implementation of sweeping and high tariffs by the federal government, most economists and forecasters currently predict something resembling “stagflation” on the Unites States’ economic horizon. But New York may have already entered a period of stagflation: New York’s economy has recovered the jobs lost during the Covid-19 pandemic, but lags the economic growth seen in the rest of the country.

The Fiscal Policy Institute (FPI) is an independent, nonpartisan think tank that advances sound and equitable fiscal policy to strengthen New York’s economy through research, analysis and strategic communications.